Premarital assets.

[anonymousguy20]

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

 

[anonymousguy20]

Oops that didnt post right.


I am getting married in a couple months. I'm 34 and have seen over the years many people get married and divorced. What worries me is that I have saved ever since I've been working around 200k in various accounts (checking, non retirement investments, ROTH, 403b). I own a house that should be paid off in 10 years or so. Car is paid off. I never ever want to get a divorce but should it happen do they take into account what you had going into it? She makes about the same amount of money as I do. Roughly 60k/year and almost totally out of debt. If it does make a difference would it be wise to fully fund my Roth this year before we do tie the knot. That's my most pressing question right now. We do live in Indiana if that makes a difference. Any help would be appreciated

 

[adjusterjack]

So, you had two opportunities to post your state, and didn't. Sigh.

Anyway, get a pre-nuptial agreement if you are that concerned about it.

 

[Zigner]

So, you had two opportunities to post your state, and didn't. Sigh.

Anyway, get a pre-nuptial agreement if you are that concerned about it.

Psssttt :

We do live in Indiana if that makes a difference.

 

[LdiJ]

Oops that didnt post right.


I am getting married in a couple months. I'm 34 and have seen over the years many people get married and divorced. What worries me is that I have saved ever since I've been working around 200k in various accounts (checking, non retirement investments, ROTH, 403b). I own a house that should be paid off in 10 years or so. Car is paid off. I never ever want to get a divorce but should it happen do they take into account what you had going into it? She makes about the same amount of money as I do. Roughly 60k/year and almost totally out of debt. If it does make a difference would it be wise to fully fund my Roth this year before we do tie the knot. That's my most pressing question right now. We do live in Indiana if that makes a difference. Any help would be appreciated

Here are some basics as to how it works.

Your separate accounts need to remain your separate accounts. You should not add your new spouse's name to the accounts and you should not add any post marriage earnings to those accounts.

As far as houses and cars are concerned if you pay car payment or house payments with marital income (income earned while married) then any equity/appreciation earned during the marriage is a marital asset.

So, to give you an example...if your house was worth 100k when you got married, and worth 150k when you got divorced, and your house payments and/or maintenance were made with current income, then your spouse would be entitled to 1/2 of 50k or 25k.

The same thing applies to retirement accounts, your spouse would be entitled to 50% of the amount accrued during your marriage.