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Questions RE: prenuptial agreement and tax debts

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M

mooser1

Guest
My fiance and I want to get married however he is in the process of resolving past tax debts to the IRS. If we have a prenuptial agreement drawn up will this keep me from being financially responsible for these debts? What happens if he preceeds me in death, would I be responsible for any monies that have not been repaid? We reside in Calif. which is a community property state.
 


L

loku

Guest
You will not be responsible for his past IRS debt when you marry. Also, your share of community property will not be subject to those debts. However, his share of the community property is subject to those debts.
 
M

mooser1

Guest
thanks for a timely response.....

one more question if you don't mind...

as of now the home is in my name only, if we marry will the home be considered community property? Home is paid for, no mortgages...

if his death were to preceed mine, would IRS consider 50% of home value to be "his" community property.....

thanks....
 
L

loku

Guest
The home will not be considered community property. Any property you own before marriage remains your separate property. However, just to make it as safe as you can, it would be wise to have you both sign an agreement stating that the home is your separate property and that you both agree that it will remain such.
 

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