risk factor

[macinbu]

What is the name of your state? CA
I am planning on marrying this summer ('05). My fiancee had a long-term relationship but never married her 'ex". There is a car that she is on the title and she pays the insurance for but he is in possesion of.

Question: Once we are married, what is my financial exposure if something happens while he or someone else is driving the car and has an accident. What would be the exposure of my fiancee?

 

[jcook7066]

Congratulations on your pending marriage.

This sounds like a situation where your fiance is using her credit and finances so that her Ex can own a car. Is the "Ex" also titled on the car ? Is he paying a portion of the insurance ? As an owner and policyholder, your fiance is putting you both at risk (assuming you have joint financial accounts and insurance policies) should something happen.

If this car belongs to the Ex - then your fiance needs to remove herself from the title (if co-titled) or sell it(if she is the lone title holder). The Ex needs to buy the car and purchase his own insurance. Not sure what the nature of your relationship is with th Ex, but do not think he is unaware of the ownership and liability laws. You don't want him doing something dumb just to get you both in trouble while goes free.


I would definitely make this happen though - I've seen too many innocent bystanders, like yourself, get screwed in this type of situation. Its not a good way to start a marriage.

 

[teflon_jones]

It's pretty simple: Your fiance needs to sever any financial ties to your ex, and anything that can expose either of you to risk. This is important since you're planning on starting a new life together!