Pay for good sound legal advice - I cant emphasis this strongly enough
How to protect assets going into marriage
- Thread starter desert monk
- Start date
A
Akila Besos
Have a lawyer draft a contract of what you agree on that can be shared in case of divorce
As well as what is separate and shall not be touched by the other party
But i do agree with everyone else saying talk to a few different lawyers to find one that best matches your interests/speaks your level
As well as what is separate and shall not be touched by the other party
But i do agree with everyone else saying talk to a few different lawyers to find one that best matches your interests/speaks your level
Hi Curvluvr,
The guys on this board have contributed a lot for me over the years so this is the least I can offer to repay some of that kindness. I do a fair amount of estate planning and estate settlement work so the first question from Desert Monk (wealth transfer from parent to child) was directly in my wheelhouse. The second was something I learned in the one family law course I took.
Cheers,
Matt
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Hi Phil,
Desert Monk's scenario involves marrying his girlfriend and that is most likely why Mandrill used the term prenuptial agreement. If Desert Monk and his girlfriend wanted to live common law and enter into a similar agreement, it is referred to as a co-habitation agreement.
Matt
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Hi Ceiling Cat,
It sounds as if your friend's divorce may have happened a long time ago and some of the laws may have changed. Ontario has a no-fault divorce system and the fact that a spouse may have been unfaithful has no bearing on how assets are divided.
I feel for your friend. One divorce is really tough. He went through two.
Cheers,
Matt
Speak to a lawyers to advise you.
In Canada, a future ex spouse can only ask for half of the value of the appreciation (if any) of your assets after the moment of marriage until the point of separation.
So for example: if you have 1 million and get married and it grows to 1.1 million and she leaves you, she can’t ask for 550k, she can only ask for 50k which is half of the appreciation since marriage.
One more thing: get free 1/2 hours consults with as many good divorce lawyers as possible. This way, all of these good lawyers can’t work for your soon to be ex spouse since they will be contaminated due to the conflict of interest.
Hope this helps.
Oh, btw: All Canadian banks have offshore subsidiaries where you can hide...wait! I mean move assets.
But once again consult with a lot of good lawyers.
Note: By reading this you do not accept anything you hear from Billie69 as legal advice and agree not to hold Billie69 liable. Always consult an attorney.
In Canada, a future ex spouse can only ask for half of the value of the appreciation (if any) of your assets after the moment of marriage until the point of separation.
So for example: if you have 1 million and get married and it grows to 1.1 million and she leaves you, she can’t ask for 550k, she can only ask for 50k which is half of the appreciation since marriage.
One more thing: get free 1/2 hours consults with as many good divorce lawyers as possible. This way, all of these good lawyers can’t work for your soon to be ex spouse since they will be contaminated due to the conflict of interest.
Hope this helps.
Oh, btw: All Canadian banks have offshore subsidiaries where you can hide...wait! I mean move assets.
But once again consult with a lot of good lawyers.
Note: By reading this you do not accept anything you hear from Billie69 as legal advice and agree not to hold Billie69 liable. Always consult an attorney.
So HSBC has one also? Even CDN Banks? So I want to move money to Cayman Island can it be done that easily without taking the monery myself?
Well, I'd talk to a good lawyer, but even still I don't believe there's any ironclad way to shield your assets, even with a pre-nup. Precedent is there to shred it in divorce court.
Ultimately, you'll have to decide if marriage is worth that risk.
For those saying "if you're having doubts about her now, the relationship is doomed", what are you talking about? The guy is just being pragmatic, not questioning his relationship. He obviously loves her. But even the best of relationships can go sour. People change over time. What they want out of life changes. And otherwise good people can get pretty nasty when they feel like they've been wronged and hurt. So he's smart to try to shield himself from that potential eventuality.
Ultimately, you'll have to decide if marriage is worth that risk.
For those saying "if you're having doubts about her now, the relationship is doomed", what are you talking about? The guy is just being pragmatic, not questioning his relationship. He obviously loves her. But even the best of relationships can go sour. People change over time. What they want out of life changes. And otherwise good people can get pretty nasty when they feel like they've been wronged and hurt. So he's smart to try to shield himself from that potential eventuality.
Yeah, if the OP is already thinking about hiding or not disclosing his finances then the relationship is probably not for him. IMO, you and your partner should be transparent about finances especially debts and what your future plans are. Get alignment on that before even thinking of getting married.
Phil C.,
Do you speak for Babs now? Are you preforming any bodily functions for any of his other orifices?
Cheating has nothing to do with asset division. She got half because everything he had was earned in the marriage. The end.
He's not talking about hiding, just protecting, which any potential spouse with any brains would think about.
I second everything MattyMcG said. I have experience with divorce both personally and professionally. You can shelter inheritances and pre marriage assets (other than the family home) and apart from bizarre cases with a bad judge on a bad day they will stay protected as long as they were disclosed in a pre nup, which is pretty standard these days.
Women do initiate divorce twice as often as men, most simply because they are the ones most like,y to be given a cheque and the kids, although this is becoming less likely as women work more and make more money than in the past. The real divorce danger is alimony but this is becoming less common for the same reasons.
Cheating has zero bearing on asset division. Whether you fuck one girl or half the roster at a strip club makes no difference. No fault divorce is the rule. Keep their numbers as you'll surely be needing them more soon.
Women do initiate divorce twice as often as men, most simply because they are the ones most like,y to be given a cheque and the kids, although this is becoming less likely as women work more and make more money than in the past. The real divorce danger is alimony but this is becoming less common for the same reasons.
Cheating has zero bearing on asset division. Whether you fuck one girl or half the roster at a strip club makes no difference. No fault divorce is the rule. Keep their numbers as you'll surely be needing them more soon.
Beyond the obvious benefits of love and companionship, married men live longer and healthier lives than single men. Married women live shorter lives than single women so if you dislike a certain special someone you can confidently shorten her lifespan while prolonging yours.
