Inheritance lived in home

[ucf]

What is the name of your state (only U.S. law)? FL Florida

I am living in a home with my fiancee. The home we live in is in a trust of which i share a major interest. I don't think this makes a difference but the property can be dispersed from the trust at anytime however my family is not in a rush and neither am I.

Planning for the worst case here...

So long as my future wife does not pay for upkeep (taxes, maint, etc) would she have any claim if we were to get divorced? I am trying not to get a prenuptial signed as I know it will cause tension. Is there anything else I should do just in case? If she did pay some upkeep say a refrigerator or tile floor would she automatically be able to claim my share (or 50% of my share) of the entire house or would I likley be required to reimburse her for her improvements to the property in the event of the divorce?

Again, I hope we never get divorced but I have personally known many couples that were very much in love but ended up in a bitter divorce and I am just trying to get all my ducks in a row ahead of time.

 

[LdiJ]

What is the name of your state (only U.S. law)? FL Florida

I am living in a home with my fiancee. The home we live in is in a trust of which i share a major interest. I don't think this makes a difference but the property can be dispersed from the trust at anytime however my family is not in a rush and neither am I.

Planning for the worst case here...

So long as my future wife does not pay for upkeep (taxes, maint, etc) would she have any claim if we were to get divorced? I am trying not to get a prenuptial signed as I know it will cause tension. Is there anything else I should do just in case? If she did pay some upkeep say a refrigerator or tile floor would she automatically be able to claim my share (or 50% of my share) of the entire house or would I likley be required to reimburse her for her improvements to the property in the event of the divorce?

Again, I hope we never get divorced but I have personally known many couples that were very much in love but ended up in a bitter divorce and I am just trying to get all my ducks in a row ahead of time.

Generally, the rule on premarital property (and inheritances for that matter) is that it remains separate property. However, a marital equity can accrue if marital assets maintain the property. Your regular income, during the marriage, would be a marital asset.

Therefore, if the home can be maintained by other assets of the trust, or by you, from other separate or inherited assets, then there will never be any marital equity.

If it cannot, if you have to use your regular income to maintain it, the marital equity will be your share of the equity that accrues during the marriage. So, if its worth 400k now, and its worth 500k in 10 years, and you decide to divorce, her share of the marital equity would be 50k.

 

[ucf]

If it cannot, if you have to use your regular income to maintain it, the marital equity will be your share of the equity that accrues during the marriage. So, if its worth 400k now, and its worth 500k in 10 years, and you decide to divorce, her share of the marital equity would be 50k.

Thanks for the quick response. What you're saying makes a lot of sense but how technical is marital equity defined? What if we, as husband and wife, paid for a one time thing such as the house to be painted with all other costs coming from the trust/family would that entitle her to an equity share?

As far as current worth, is that measured at the time if the marriage? of when the first co-mingled funds are used towards the homes upkeep?

 

[Bali Hai]

What is the name of your state (only U.S. law)? FL Florida

I am living in a home with my fiancee. The home we live in is in a trust of which i share a major interest. I don't think this makes a difference but the property can be dispersed from the trust at anytime however my family is not in a rush and neither am I.

Planning for the worst case here...

So long as my future wife does not pay for upkeep (taxes, maint, etc) would she have any claim if we were to get divorced? I am trying not to get a prenuptial signed as I know it will cause tension. Is there anything else I should do just in case? If she did pay some upkeep say a refrigerator or tile floor would she automatically be able to claim my share (or 50% of my share) of the entire house or would I likley be required to reimburse her for her improvements to the property in the event of the divorce?

Again, I hope we never get divorced but I have personally known many couples that were very much in love but ended up in a bitter divorce and I am just trying to get all my ducks in a row ahead of time.

My advice:

Do not, I REPEAT, DO NOT GET MARRIED!

You have the luxury of coming here getting answers to questions without any consequences. I suggest you spend an hour each day reading this forum.

After a year, you can make up your mind whether you want to ruin your life or not.

If signing a prenup will cause tension with your fiancee, that should tell you right there what your divorce will be like.

 

[LdiJ]

Thanks for the quick response. What you're saying makes a lot of sense but how technical is marital equity defined? What if we, as husband and wife, paid for a one time thing such as the house to be painted with all other costs coming from the trust/family would that entitle her to an equity share?

As far as current worth, is that measured at the time if the marriage? of when the first co-mingled funds are used towards the homes upkeep?

The only way you can guarantee that she will have no marital equity in the home is to never spend any personal money on the property. The trust needs to handle all upkeep and maintenance.

 

[ucf]

My advice:

Do not, I REPEAT, DO NOT GET MARRIED!

You have the luxury of coming here getting answers to questions without any consequences. I suggest you spend an hour each day reading this forum.

After a year, you can make up your mind whether you want to ruin your life or not.

If signing a prenup will cause tension with your fiancee, that should tell you right there what your divorce will be like.

Well I want kids and i'm not a sports star so I feel like if I want kids I will need to get married. Florida seems like a state that won't totally dick me over if we do get divorced. I see this forum as a worst case scenario, I don't think anyone that's happily married will come to this forum so its kind of one sided with regards to marriage ending in divorce.

Are you saying I should get a prenup what would that prevent in my situation?

 

[ucf]

The only way you can guarantee that she will have no marital equity in the home is to never spend any personal money on the property. The trust needs to handle all upkeep and maintenance.

Would a prenup do anything to prevent this or would the end result be the same if it ended in divorce?

 

[Bali Hai]

Well I want kids and i'm not a sports star so I feel like if I want kids I will need to get married. Florida seems like a state that won't totally dick me over if we do get divorced. I see this forum as a worst case scenario, I don't think anyone that's happily married will come to this forum so its kind of one sided with regards to marriage ending in divorce.

Are you saying I should get a prenup what would that prevent in my situation?

Florida is one of the worst states for a man getting a divorce.

Below is a website, if you take the time to read it, that may just save your life.

Abolish "Lifetime" Alimony

 

[disneykid52]

you cant have kids unless youre married? is this something new??

 

[xylene]

Bluntly

So long as my future wife does not pay for upkeep (taxes, maint, etc) would she have any claim if we were to get divorced?

Your wife not paying "her share" does not preclude her making a claim to marital property.

Martial property is not like corporate shares.

You should have a discrete private consult with a lawyer before you broach any of this with your wife.

 

[Bali Hai]

Your wife not paying "her share" does not preclude her making a claim to marital property.

Martial property is not like corporate shares.

You should have a discrete private consult with a lawyer before you broach any of this with your wife.

It's not his wife, and if he gets smart, it never will be his wife.

 

[LdiJ]

Would a prenup do anything to prevent this or would the end result be the same if it ended in divorce?

I prenup couldn't hurt.

 

[candg918]

OP,

Bali is the designated cynic. Unfortunately, his concerns are valid. Get thee to an attorney. Perhaps the attorney that drafted the trust either handles or is associated with a attorney specialist in family law.

Please post back if he has any wisdom you would like to share about the trust setup to keep this from being an issue.

 

[PQN]

curious

Could the trust rent them the property? i.e rent is $100/month plus upkeep of the property???? Would that help??

 

[LdiJ]

Could the trust rent them the property? i.e rent is $100/month plus upkeep of the property???? Would that help??

No, because it would cause unnecessary tax complications.