Divorce Source: Keeping PRE-MARITAL assets as Separate Property

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3exprt
recently joined

Reged: 03/05/09
Posts: 2

Keeping PRE-MARITAL assets as Separate Property

#510006 - 03/05/09 06:58 PM

Me and my fiance have been together for about 10 years. We are getting married this year.

During that time, I accumulated about $1 million - most of it kept in Money Market accounts under my name.

If I continue holding these assets under my name and do not commingle them with marital assets, am I safe to assume that those assets will not be considered as marital in case of a divorce...

1 point that worries me.

Can it be argued, that since those assets were accumulated
while we were engaged and living together, that they could somehow be considered as marital. Can you guys give me some legal insight on this argument.

Also, since she does not want to sign a pre-nup - what else can I do to issolate my assets? would creating some kind of Trust or an LLC help?

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Cinder2
Carpal \'Tunnel

Reged: 06/02/05
Posts: 4361
Loc: Southern California

Re: Keeping PRE-MARITAL assets as Separate Property

[Re: 3exprt]
#510325 - 03/06/09 11:57 AM

ALERT. Why does she not want to sign a pre-nup? I'd be really leery of this person. If the pre-nup is a simple declaration of who owned what prior to marriage, signing it should be a no brainer. What other terms did you include?

Cinder

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3exprt
recently joined

Reged: 03/05/09
Posts: 2

Re: Keeping PRE-MARITAL assets as Separate Property

[Re: Cinder2]
#510729 - 03/07/09 06:05 AM

Our relationship has some issues - but she always blames it on the fact that we are not married... So, perhaps I 'foolishly' hopping that it will change... but also want to protect myself - in case it does not.

What are the good tactics in proposing a pre-nup (what makes me worry is that she does not even want to hear about it)?

If we do get married, what steps I should take to protect myself financially? you guys have been through this, so I would like to get some opinions on what would you have done differently (in retrospect)..

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jaiye
old hand

Reged: 10/27/05
Posts: 860

Re: Keeping PRE-MARITAL assets as Separate Property

[Re: 3exprt]
#510837 - 03/08/09 10:27 AM

If your relationship has problems getting married will not help and in most cases actually make it work since most people feel more free to show themselves after marriage and are in many cases are less likely to work as hard on the relationship because of an attitude of "I have him hooked so he won't leave" type of mentality.

As far as a prenup is concerned you can use the idea that a prenup also protects her since many people will list settlements in case of divorce going by the number of years married that increases a settlement to her determined by how long the marriage lasts.

As far as protecting your assets you will have to keep them completely separated which also means that if you buy a house and pay for it making sure there is a clear paper trail to prove it was purchased with non marital funds which would require not making payments with marital funds such as anything you earn after the marriage.

You also want to make sure that that she continues to work so that you don't set up a picture where you are supporting her in a way that in a divorce situation she does not end up being a candidate for alimony which can also be covered with a prenup. However prenups often times don't stand up in court.

Frankly were I in your situation there would be NO marriage without a prenup but if the relationship is not working now it is very doubtful it will work after you are married and you need to be really suspicious as to her motivation for not wanting to sign a prenup. That just spells "Gold Digger" to me.

If you do convince her to sign a prenup I am sure I don't have to tell you to have a really good attorney draw it up so it is iron clad and unbreakable.

Please come back on and tall us how it works out but like I said she shouldn't be given any choice other than to sign it or no marriage. I would also consult with an attorney to make sure you are doing everything by the book to protect yourself.

Also I am pretty sure that it doesn't matter what was accumulated prior to marriage while you lived together it would all be considered non marital. But If you add to it after the marriage with income derived during the marriage then it could be considered marital so I would assume that you would need to open all separate accounts for any moneys earned during the marriage.

Edited by jaiye (03/08/09 10:32 AM)

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henrietta95
recently joined

Reged: 04/07/10
Posts: 1

Re: Keeping PRE-MARITAL assets as Separate Property

[Re: jaiye]
#650067 - 04/07/10 04:21 PM

This just sounds like you do not love this woman. Shame on you for taking advantage of her for 10 years and using her pre-maritally and not you can not make a commitment. Keeping pre-marital assets separate is a red-flag signal that you can not commit to her. You probably never even gave the girl roses. she deserves better!

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