Bankruptcy protection by pre-nup

[wife2b]

What is the name of your state? AZ

My fiance and I would like to get married as soon as possible. However, he owns his own business and it is in trouble financially. He is concerned about us getting married now in case he has to file bankruptcy. Is there a way for us to protect my pre-marital assets and my credit from his possible bankruptcy by entering into a pre-nuptial agreement?

 

[seniorjudge]

What is the name of your state? AZ

My fiance and I would like to get married as soon as possible. However, he owns his own business and it is in trouble financially. He is concerned about us getting married now in case he has to file bankruptcy. Is there a way for us to protect my pre-marital assets and my credit from his possible bankruptcy by entering into a pre-nuptial agreement?

Q: Is there a way for us to protect my pre-marital assets and my credit from his possible bankruptcy by entering into a pre-nuptial agreement?

A: No; third parties who may want your property will not be parties to the pre-nup. But you had best hire your own lawyer (not your honey's lawyer) and ask him about pre-nups in your state. They are very tricky and most courts don't like them.

 

[wife2b]

It's funny you would answer that way. One of his corporate attorneys answered this way:
"So long as you each maintain clearly delineated assets and do the pre-nup, she should be fine. Accordingly, keep track of what you each own, maintain separate bank accounts, etc. You can file a personal BK without your wife."
So, your opinion is that the above is not true? I believe you are correct in that I need to seek my own legal advice from an attorney of my choice. Would you suggest I speak to a Bankruptcy attorney or a Family Law attorney?

 

[seniorjudge]

It's funny you would answer that way. One of his corporate attorneys answered this way:
"So long as you each maintain clearly delineated assets and do the pre-nup, she should be fine. Accordingly, keep track of what you each own, maintain separate bank accounts, etc. You can file a personal BK without your wife."
So, your opinion is that the above is not true? I believe you are correct in that I need to seek my own legal advice from an attorney of my choice. Would you suggest I speak to a Bankruptcy attorney or a Family Law attorney?

http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/ars/25/00215.htm&Title=25&DocType=ARS

Arizona is a community property state. I know nothing about community property.

So, you should see a good family law attorney.

You have to understand that the longer you are married, the less likely that a court will uphold a prenuptial agreement.