Going to be married soon, and would like to protect my assets if I can in a prenuptial agreement. I currently own two duplexes, one of which I intend to live in with my fiance and soon wife. We haven't moved in yet, not for another 6 months. Can the duplex we intend to live in be protected even if we are both using it as our primary residence for the next 5+ years?
Also, I currently manage my family and friends property via a property management firm. I am presuming that just because I am managing the funds, tenants, etc, that their assets will not be held somehow in court. I am especially more concerned with my family. Just want to make sure there isn't anything I am overlooking in a worst case scenario. Any advice would be appreciated. Thank you!
Divorce / Separation Lawyer
A financial agreement properly drafted by an experienced attorney certainly can protect your assets, even if you decide to reside in one of the duplexes during your marriage. The prenuptial and post-nuptial agreements are carefully scrutinized by the court, and your language must be very precise, straightforward, and unambiguous. The issue you want to think through is whether or not you want to attempt to pursue a waiver of spousal support. It would not behoove you to even think about attempting to draft the document or attempt to strike a legal agreement yourself without legal guidance; this would be a big mistake and could cause you possible financial hardship in the future.
If you have found this information helpful, please let the attorney know by marking best answer. Thank you. This participating Attorney does not warrant any information provided, nor are we creating an Attorney-Client relationship by providing said information to you on this site. Nothing contained herein is intended to constitute, offer, induce, promise, or contract of any kind. The content provided is presented as a courtesy to be used only for informational purposes and is not represented to be error free. The Law Offices of John N. Kitta makes no representations or warranties of any kind with respect to its answer to inquiries, and such representations and warranties are being expressly disclaimed. Given limited facts, we are attempting to share relevant information concerning this area of the law as a public service.
Family Law Attorney
You need to sit down with an EXPERIENCED attorney to help you DECIDE whether you need to have a prenup. It's strange, but although you can't buy a house, or a car, or even join a gym in California without reading a LONG written contract, you can get married with NO information at all about what's in THAT contract. (Marriage is a contract, and a complicated one!)
If you want to CHANGE the contract in advance, though (and that's what a prenup does) you generally need to speak to an attorney.