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Posted: 2/16/2018 10:50:12 AM EDT
[#1]
Do you pay rent in the rental agreement with the trust? Vs a house payment?
Tag for real legal advice and not my opinion. |
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Posted: 2/16/2018 10:51:11 AM EDT
[#2]
The only way to protect it from divorce is to stay single.
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Posted: 2/16/2018 10:51:49 AM EDT
[#3]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. TC |
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Posted: 2/16/2018 10:52:18 AM EDT
[#4]
Interesting concept if it works.
Put all your stuff in a trust that you have before marriage and when it goes south, get to keep it. |
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Posted: 2/16/2018 10:54:21 AM EDT
[#5]
I guess if you future wife is OK with not being on the trust. Prenup sounds easier.
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Posted: 2/16/2018 10:55:44 AM EDT
[#6]
Iv heard prenuptial contracts can protect a bunch of your assets.
The love if your life can become a horror show during a divorce. |
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Posted: 2/16/2018 10:58:14 AM EDT
[#7]
Martial assets are an issue of state law. Thus, its impossible to answer without knowing the state in which you will live during marriage and at time of divorce.
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Posted: 2/16/2018 11:00:31 AM EDT
[#8]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 11:01:29 AM EDT
[#9]
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Posted: 2/16/2018 11:01:54 AM EDT
[#10]
Depends on the state. In CA anything you acquire while married is 50/50, anything pre marriage is yours. It can get grey with things like, well the houses value increased by XX during the marriage and should be split 50/50 claims.
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Posted: 2/16/2018 11:02:42 AM EDT
[#11]
 Gd will surely guide you to your answer op |
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Posted: 2/16/2018 11:03:01 AM EDT
[#12]
Depends on how the trust is set up.
If community earnings went towards payment, nope. That percentage of community earns can be claimed by the community, of which she may take half. |
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Posted: 2/16/2018 11:03:38 AM EDT
[#13]
Do you continue to add assets to the trust after marrying? I imagine mixing pre-marriage and joint assets into one pot would make division of assets insanely contestable.
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Posted: 2/16/2018 11:03:53 AM EDT
[#14]
Yes. But you have to pay rent to the trust, the trust has to qualify for and pay the mortgage, and you have to give up contrpl of the trust.
Who do you trust with everything you own? |
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Posted: 2/16/2018 11:04:43 AM EDT
[#15]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 11:08:09 AM EDT
[#16]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. Whether a trust helps you is a complicated question. Trusts come in two varieties --revocable and irrevocable. A revocable trust can be helpful for tax purposes an simplify estate planning, but since you can revoke the trust and take the assets back, courts generally treat it as just another form of ownership. An irrevocable trust could be helpful, but the challenge is that you would likely need to involve someone else. While states have eased the requirement by statute, the common law rule is that you can't have a unity of roles between the grantor, the trustee, and the beneficiary, or it isn't a valid trust. You would either need a co-beneficiary (e.g. your cousin gets it when you die) or perhaps a co-trustee (e.g. you and your brother Bill both share the role of trustee). To be really safe, you could appoint someone else (say Bill) as the sole trustee. He would essentially own the house, with the obligation that he would administer it for your benefit. He would owe you a fiduciary duty to perform that job faithfully. You could also hire an institutional trustee, like a bank. You would need to include enough assets in the trust to pay taxes and upkeep. Under those circumstances, as long as the arrangement is in place before the marriage, I think it would be pretty unlikely a court would treat the house as marital property. If you are serious, I suggest you consult a lawyer licensed in your jurisdiction who is knowledgeable about both trust law and matrimonial law. |
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Posted: 2/16/2018 11:09:11 AM EDT
[#17]
State law. Luckily I haven't had any first hand experience with it but I know my Dad kept everything he could document having going into the marriage. Everything earned after that was community property. He also got 100% of his inheritance which surprised me.
I'm guessing the trust would just become community property depending on state law. But I'm an engineer not a lawyer, and I'm not even very good at that so I'll shut up now. |
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Posted: 2/16/2018 11:10:07 AM EDT
[#18]
Prenuptial
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Posted: 2/16/2018 11:10:13 AM EDT
[#19]
I guess it depends on your state. In Ohio it would be considered pre marital property and she can't take it.
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Posted: 2/16/2018 11:11:10 AM EDT
[#20]
Quote HistoryQuoted:
Depends on the state. In VA since I owned my house before I was married it will be solely mine if I get divorced. If you change the deed to include your wife then you may concede your rights to sole ownership, I don't know specifically about that part as I did not. Quote HistoryQuoted:
Quoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 11:18:11 AM EDT
[#21]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. A Lot of this depends on who your judge is and their attitude on the situation. Either way, seek a lawyer. |
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Posted: 2/16/2018 11:20:09 AM EDT
[#22]
Quote HistoryQuoted:
Prenuptial |
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Posted: 2/16/2018 11:22:17 AM EDT
[#23]
Quote HistoryQuoted:
YEP. these days, any effort in protecting your finances and property from spousal robbery is seen as greedy and mean spirited toward women. Often men get their pee pee slapped for appearing to do as much. Even premarital contracts drawn up are often tossed out like old newspaper in the courts. A Lot of this depends on who your judge is and their attitude on the situation. Either way, seek a lawyer. |
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Posted: 2/16/2018 11:22:48 AM EDT
[#24]
If you're worried about protecting your assets from this person, don't get married to them.
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Posted: 2/16/2018 11:24:19 AM EDT
[#25]
nothing is safe in a divorce, not even with a prenup, it all depends on the judge IMHO . you could own your house, and have a good income before marriage, your wife could be jobless when you marry, then be a stay at home wife. 10 years later she wants a divorce.... and shes become comfortable in this new lifestyle, so, you owe her a pile of cash every month for the rest of her life, plus a car, plus rent. she will get your premarital house if there are kids involved, if the judge decides she deserves it.
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Posted: 2/16/2018 11:29:56 AM EDT
[#26]
Post a picture of each of you.
We will give you a good idea whether you have anything to worry about. Prenups are becoming more worthless each day. The courts (judges) can't stand it when a valid contract eliminates the need for their final judgement. |
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Posted: 2/16/2018 11:30:48 AM EDT
[#27]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 11:32:56 AM EDT
[#28]
Judges absolutely look past trusts and behind the corporate veil for divorce/family court issues.
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Posted: 2/16/2018 11:39:12 AM EDT
[#29]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 11:56:19 AM EDT
[#30]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 12:00:55 PM EDT
[#31]
Quote HistoryQuoted: That probably isn't even 100% guarantee these days... |
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Posted: 2/16/2018 12:15:43 PM EDT
[#32]
Is she on the title or loan?
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Posted: 2/16/2018 12:16:43 PM EDT
[#33]
Yes
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Posted: 2/16/2018 12:24:50 PM EDT
[#34]
I'm in the same boat OP. I own a beautiful peace of property that's paid for. I'm Building a house this spring on the land where my shop is.
My current girlfriend will likely move in with me after I finish building. My name is and will be solely on everything. If we decided to get married one day i want to protect the land/house and shop that's on the land as its my livelihood. I'm told an irrevocable trust with yourself as a trustee is an option. |
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Posted: 2/16/2018 12:25:44 PM EDT
[#35]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. |
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Posted: 2/16/2018 12:27:02 PM EDT
[#36]
You can’t buy a house for your trust from yourself. It is called self dealing. You, your spouse, or your children can’t rent a house from your trust either.
You brought the house to the marriage in Ohio it can’t be taken in a divorce. |
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Posted: 2/16/2018 12:30:33 PM EDT
[#37]
Quote HistoryQuoted:
See this is what scares me. A prenup should not be at the mercy of a Judge. Quote HistoryQuoted:
Quoted:
YEP. these days, any effort in protecting your finances and property from spousal robbery is seen as greedy and mean spirited toward women. Often men get their pee pee slapped for appearing to do as much. Even premarital contracts drawn up are often tossed out like old newspaper in the courts. A Lot of this depends on who your judge is and their attitude on the situation. Either way, seek a lawyer. |
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Posted: 2/16/2018 12:30:55 PM EDT
[#38]
The laws are going to vary a lot from state to state, when you set up the trust, etc. In theory, it can provide some protection but there are plenty of gotchas you have to avoid. The big one is: No comingling of assets. The trust has to pay its own fees, taxes, interest, etc. If you write a check from your own account to cover any of these, the trust shield goes poof!
But that's just one pitfall. Bottom line, hire a lawyer. Spend the bucks for an hour of his time instead of asking for legal advice on an off-topic gun forum. |
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Posted: 2/16/2018 12:43:25 PM EDT
[#39]
It helps, but it's part of a larger prenuptial plan. When I explored this, major assets get placed into
the trust, and then the prenup declares the trust pre-marital property. As others noted, you need to have a lot of conditions met for a pre-nup to be enforcable. The lawyer I spoke with insists both parties have their own lawyers, that the prenup be signed a least a month in advance of the marriage, and that the signing of the prenup occur with both lawyers and both parties present, recorded on video and by a court reporter. This really is something that requires a professional. |
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Posted: 2/16/2018 12:47:44 PM EDT
[#40]
Quote HistoryQuoted:
Depends on the state. In CA anything you acquire while married is 50/50, anything pre marriage is yours. It can get grey with things like, well the houses value increased by XX during the marriage and should be split 50/50 claims. In CA the house is yours regardless of divorce. CA is fucked up, but they have a few things done..."better". |
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Posted: 2/16/2018 12:48:52 PM EDT
[#41]
Quote HistoryQuoted:
If you're worried about protecting your assets from this person, don't get married to them. |
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Posted: 2/16/2018 12:56:38 PM EDT
[#42]
Quote HistoryQuoted:
The only way to protect it from divorce is to stay single. Common law wife. Still single. Still fucked. |
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Posted: 2/16/2018 1:00:36 PM EDT
[#43]
Quote HistoryQuoted:
Yup. In CA the house is yours regardless of divorce. CA is fucked up, but they have a few things done..."better". Throw a couple offspring in the mix and then tell me how that maths out. |
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Posted: 2/16/2018 1:01:13 PM EDT
[#44]
Quote HistoryQuoted:
Throw a couple offspring in the mix and then tell me how that maths out. Quote HistoryQuoted:
Quoted: Yup. In CA the house is yours regardless of divorce. CA is fucked up, but they have a few things done..."better". |
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Posted: 2/16/2018 1:04:05 PM EDT
[#45]
My suggestion is to pick a good wife. Yes I failed at this
 Just about every time, a dick head soon to wife/husband will be spotted by your friends and parents long before you see it. Ask your friends and parents what they think of the selected one. Then when they say he/she is a asshole pay attention to them. |
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Posted: 2/16/2018 1:08:53 PM EDT
[#46]
Quote HistoryQuoted:
Yes. But you have to pay rent to the trust, the trust has to qualify for and pay the mortgage, and you have to give up contrpl of the trust. Who do you trust with everything you own? |
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Posted: 2/16/2018 1:09:00 PM EDT
[#47]
If you have ANY doubts now, DON'T get married!
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Posted: 2/16/2018 1:12:14 PM EDT
[#48]
I’m guessing if that worked and was that easy many people would already be doing it.
Maybe just make a fake person like in Shawshank Redemption. Have that phantom be the legal owner of all your assets and then pay this ‘Harvey the Rabbit” rent. During the divorce proceedings you claim 0 assets. Your car, house, etc is all borrowed from the fictions entity. Suppose people already use corporations as a shelter like this. |
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Posted: 2/16/2018 1:15:47 PM EDT
[#49]
Quote HistoryQuoted: That probably isn't even 100% guarantee these days... |
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Posted: 2/16/2018 1:20:52 PM EDT
[#50]
Quote HistoryQuoted:
I'm in the same boat OP. I own a beautiful peace of property that's paid for. I'm Building a house this spring on the land where my shop is. My current girlfriend will likely move in with me after I finish building. My name is and will be solely on everything. If we decided to get married one day i want to protect the land/house and shop that's on the land as its my livelihood. I'm told an irrevocable trust with yourself as a trustee is an option. Rent an apartment somewhere that can be your "residence". Never let her live at your nice property. |
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