Inheritance lived in home

[ucf]

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.

I will be consulting with an attorney before the years end as I will be part of another trust that is in the process of being setup (sounds a lot better than it is) I am being involved with the main purpose of keeping assets with blood relatives. Can you tell there have been some bad divorces in my family previously?

Perhaps the tense I used was wrong. I have already inherited portions of multiple properties and am not yet married. We were planning on keeping the properties in the trust until they are sold so as not to complicate things further and it shouldn't create an unnecessary tax burden so long as they aren't income producing.

I first posted to this forum with the mindset that if it wasn't acquired during a marriage then the spouse would have no claim to it. Looks like that isn't the case and I have much more research to do.

 

[ucf]

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.

The main question is... How do I prevent it from being qualified as marital property?

I don't see how any spouse (male or female) should feel/be entitled to a spouses inheritance should there be a divorce.

 

[ucf]

A prenup couldn't hurt.

But would it help at all?

 

[ucf]

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

I will be getting married, that's not going to change.

I would appreciate you sharing you advice on making the best of a marriage and covering my a$$

 

[Bali Hai]

I will be getting married, that's not going to change.

I would appreciate you sharing you advice on making the best of a marriage and covering my a$$

My advice:

You can't save someone from themselves.

I've advised you how to cover your a$$, once you're married, your a$$ belongs to her.

 

[ucf]

My advice:

You can't save someone from themselves.

I've advised you how to cover your a$$, once you're married, your a$$ belongs to her.

Well then maybe i'll fill your shoes on this forum in 20 years.

time will tell...

 

[LdiJ]

Well then maybe i'll fill your shoes on this forum in 20 years.

time will tell...

Please do not listen to Bali, he is incredibly bitter.

A well written prenup, that is reviewed by an attorney who represents her and who advises her that its fair to sign it, can protect the assets. It also should be presented to her long before the wedding, and long before any money has been spent towards the wedding.

The problem is, that the longer a marriage goes on, the easier it is to break a prenup. If you get divorced in 5 or 10 years, odds are you won't break the prenup. (if done as above). However if you are married 30 years and the marriage falls apart, its fairly easy to break a prenup.

 

[Bali Hai]

Please do not listen to Bali, he is incredibly bitter.

A well written prenup, that is reviewed by an attorney who represents her and who advises her that its fair to sign it, can protect the assets. It also should be presented to her long before the wedding, and long before any money has been spent towards the wedding.

The problem is, that the longer a marriage goes on, the easier it is to break a prenup. If you get divorced in 5 or 10 years, odds are you won't break the prenup. (if done as above). However if you are married 30 years and the marriage falls apart, its fairly easy to break a prenup.

OP walks warily down the street,
With the brim pulled way down low
In the courtroom just the sound of his feet,
Inheritance ready to go
Are you ready, Are you ready for this
Are you hanging on the edge of your seat
Out of the doorway bolts the judge
To the sound of the beat


Another one bites the dust
Another one bites the dust
And another one gone, and another one gone
Another one bites the dust

 

[mistoffolees]

The main question is... How do I prevent it from being qualified as marital property?

I don't see how any spouse (male or female) should feel/be entitled to a spouses inheritance should there be a divorce.

You've already got your answer - asking repeatedly won't change it.

If you pay for upkeep, repairs, mortgage, taxes, anything on the house with marital funds, some portion of the house could become marital property. If you put your spouse on the deed, it becomes marital property.

If you want to keep the house separate, you need to make sure it stays only in your name, and pay 100% of expenses from separate funds (money in the trust or gifts, etc).