I have quit the hobby and I am now in a serious relationship with a woman I love, and am now considering getting engaged this summer or shortly after (serious, not trolling). I’m a pragmatic guy, and knowing what we all know about the family court system, I don’t want to get divorce raped if things go bad(especially in the first few years or so). I have $1M in an investment account that I want kept separate for me, that will still be there in the event of us divorcing. How do I go about this in the simplest, legally effective way (other than not getting married)? Also, my parents are elderly and I may be getting an inheritance during this time, not sure if she can go after that and I should be concerned ? Thanks brothers.
How to protect assets going into marriage
- Thread starter desert monk
- Start date
pre-nup
if not,
write out a contract you both can agree with.
I've done both and was ok with both. If she really loves you she will want just you and not what you have.
if not,
write out a contract you both can agree with.
I've done both and was ok with both. If she really loves you she will want just you and not what you have.
From what I heard, if you keep any inheritance in your name only, she can't touch it.
I'm not a lawyer so not entirely sure.
I've heard prenups aren't worth the paper they are written on.
Best would be to consult a good lawyer who specializes in this area.
I'm not a lawyer so not entirely sure.
I've heard prenups aren't worth the paper they are written on.
Best would be to consult a good lawyer who specializes in this area.
If your main concern is to keep your assets, don't marry her.
What you bring into the marriage belongs to you. And the same for your wife. Make sure you document this investment money. If you buy a house together as a married couple, that's a joint asset. If you have a child together, you will each be expected to support your child financially. I'd say talk to a family lawyer before you marry, just to understand the law. And if you have a choice in love, find a spouse who earns at least as much as you do.
Don't do it bro. Just don't. Prenups are useless, a very smart lawyer will rip that apart. I am not sure you can protect your inheritance from her prying hands due to the customary 50:50 divorce split. That said, if you must store away that million bucks, get a very good accountant to help you siphon it beforehand in a multi-layered anonymous (untraceable) offshore investment account. Good luck.
Get a pre nup. You're silly if you don't. You can make it ironclad with a bit of effort.
As Einar said, document everything you have now, as it is a deduction against the property you have at the date of separation. Don't intermingle that $1M with any joint accounts you have w her.
Although the $1M is a deduction from Family property, interest on it is not.
She cannot go after the inheritance, unless you put it into the family home. So don't. And keep it separate. Have your parents put a clause in the will that expressly states that interest on the inheritance is not a family asset. Keep that interest separate as well.
Do you have a home? If so, that gets shared 50:50 w no deductions, if there's no pre nup.
That's about it. Call the Law Society Referral Service and a lawyer will give you 30 minutes free legal advice.
Feel free to DM me as well.
See a very good family law lawyer for advice. Do not go cheap.
The $1MM NFP (Net Family Property) before marriage is protected (provided you do not use the $1MM investment account to buy a house) then kiss it goodbye.
All the growth on your $1MM investment account can be divided 50/50 if you split..
The matrimonial home can be divided so borrow jointly rather than use your own capital.
Inheritances are best kept in a separate account and separate from your other investments. Keep the lines clear - your parents' will should stipulate that the inheritance is excluded from family law claims.
She is bound by the same rules - but it sounds like you have a lot more than she is bringing to the table financially.
Good luck to you. Stay away from hobbying once you are serious.
I swore I would never get married or LTR after I got financially raped, but I met one woman who I would have lived with - it just did not work out.
The $1MM NFP (Net Family Property) before marriage is protected (provided you do not use the $1MM investment account to buy a house) then kiss it goodbye.
All the growth on your $1MM investment account can be divided 50/50 if you split..
The matrimonial home can be divided so borrow jointly rather than use your own capital.
Inheritances are best kept in a separate account and separate from your other investments. Keep the lines clear - your parents' will should stipulate that the inheritance is excluded from family law claims.
She is bound by the same rules - but it sounds like you have a lot more than she is bringing to the table financially.
Good luck to you. Stay away from hobbying once you are serious.
I swore I would never get married or LTR after I got financially raped, but I met one woman who I would have lived with - it just did not work out.
See a lawyer, get a female one that has raked many men into the ground and gave big settlements to women. These will be the best lawyers in a divorce or to get the best divorce settlements.
The laws have changes in the last decade or two. I think these days it has to do with a lot with when you made the money, and which spouse contributed to the break up. I can tell you a story of a woman who met the guy coming out of a divorce. He was flat broke when they met. He had a career but he was at the lower rungs of his profession. She worked two jobs to put him through additional education for a specialization. This worked out well for them as he made a big salary and had a nice house. One day he was caught cheating.
She got the house, the country house. half his assets, half his salary till retirement and even half his pension when he will retire because when they started out they had nothing and she contributed greatly to his success and he was the one that caused the collapse of their marriage.
The laws have changes in the last decade or two. I think these days it has to do with a lot with when you made the money, and which spouse contributed to the break up. I can tell you a story of a woman who met the guy coming out of a divorce. He was flat broke when they met. He had a career but he was at the lower rungs of his profession. She worked two jobs to put him through additional education for a specialization. This worked out well for them as he made a big salary and had a nice house. One day he was caught cheating.
She got the house, the country house. half his assets, half his salary till retirement and even half his pension when he will retire because when they started out they had nothing and she contributed greatly to his success and he was the one that caused the collapse of their marriage.
Well, first of all I'm not a lawyer but if you have doubts about your future-wife - then we might have some problems. However, that's another topic. But to answer your questions, how to protect your investment:
1) Get a contract-lawyer that specialize in contract aka per-nuptial agreement and family estate and wills; which you can discuss about your concerns about your future inheritance and your current/future investments.
2) Hire a good accountant and international lawyer - regarding about transferring your wealth to oversea/offshore accounts in other countries; which those accounts can be protect from Canada/US authorities - Swiss Bank, Cayman Island banks et cetera. Also, hire oversea lawyers from that country if you decide to store money over there.
3) Hire a family lawyer - so you will understand the difference between common-law marriage and actual Canadian license marriage.
4) Hire a divorce lawyer discuss about your concerns on preserving your future wealth from your ex-spouse.
5) Look for alternative investment - which your future-wife won't know about aka cryptocurrencies that are store in your cold-storage wallet.
6) You might wanna talk to major banking (RBC, CIBC, BOM et cetera) advisor(s) - ask them about family trust funds - so your family /future family wealth can be protect from your ex-wife's future boyfriend(s)/affairs et cetera.
7) If you are already have doubts about your marriage with your fiancee - then you shouldn't even consider marriage in the first place. Indeed life is full of surprises - so it's best to learn how to protect yourself before this problem exist. If you don't marry her / live with her - you are 100% guarantee safe.
8) Have you discuss about this with your parents on how to preserve your wealth - in case you are going to get a divorce?
9) Lastly if you did cheat on her - never admit to anything. No matter what. If she cheated on you - get proof about her affairs and talk to your lawyer and never confront about her affairs and never get emotional about it. Be stoic.
Overall, good luck buddy.
Do not rely on this forum for advice. Talk to a very good, expensive lawyer (you get what you pay for). But I suspect the advice not to get married nor live common life is the best advice.
Actually, I would advise you to talk to several lawyers, so you can gauge their advice and in case one is an expensive dud.
I read here long ago and heard from other people.
1. Parent inheritance - they should leave it to a trust fund for you only and not her even if there is a kid involved. If you pass/die and no kid then charity to your choice. College or University you went , food banks spread out through the GTA. Hilton grandparents didn't want to leave anything for inheritance because they should learn to make their own.
2. International lawyer to move the money or you do it to the Cayman Island.
3. The Capital will not be touched but after the marriage any gains will be her half. Unless the pre-nup is well tighted.
1. Parent inheritance - they should leave it to a trust fund for you only and not her even if there is a kid involved. If you pass/die and no kid then charity to your choice. College or University you went , food banks spread out through the GTA. Hilton grandparents didn't want to leave anything for inheritance because they should learn to make their own.
2. International lawyer to move the money or you do it to the Cayman Island.
3. The Capital will not be touched but after the marriage any gains will be her half. Unless the pre-nup is well tighted.
That is correct co-habitat after 6 months in Ontario half is hers. NO MATTER what, this was covered 9 weeks ago.
For union of a trophy wife and a rich playboy it is good
measure to have a prenup in place before the wedding.
If I am marrying a rich sugar mom I too would expect to
have to sign a prenuptial agreement.
You must be mentally retarded to even think of getting married.
Name one positive thing about getting married please
Name one positive thing about getting married please
