Is there a real way to protect property from future divorces
Canton, OH
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Posted 4 months ago in Marriage / Prenuptials
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we have 3 sons at marry age now, but as parents want to divide land between them but do not want future divorces to split the land. We do want their families to live there too.
Answers (2)Thomas Arthur McCormack
This attorney is licensed in Ohio.
Posted 4 months ago.
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Urge your children to enter into prenuptial agreements before marrying. That can resolve the property issues upon a termination of the marriage before the wedding. Then, be very careful to specify that any gifts given are to your child only, not to the spouse. Gifts received during marriage remain separate property so long as that property can be traced.
THE ANSWER PROVIDED is for general informational purposes only. This attorney does not intend to give legal advice. Evaluating the statutes and case law, as well as any relevant court documents together with a more detailed factual analysis could result in a different response. The attorney does not intend to create an attorney/client relationship by the response. Anyone seeking legal advice should always consult with retained legal counsel for a full evaluation of his or her claims. Erin Adams Armstrong
This attorney is licensed in Ohio.
Posted 4 months ago.
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It may be wise to discuss this issue from an estate planning perspective rather than from a Marriage/Prenuptials one. Placing ownership of the land in the name of a trust with your sons as beneficiaries provides additional protection.
Gifts or inheritances of land in a divorce context are separate property unless they have become so co-minlgled that they are no longer traceable. The burden is on the party asserting separate property. Having the property held as part of a trust estate my sidestep the issue altogether. |