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My family owns a business and several properties including a commercial property that pays rent each month. Our family members, including myself, are members of the LLC that own the properties.
This is a hypothetical question, as I am not currently married. One of my parents lost a significant amount of money during their divorce so I would like to be cautious if I ever decide to take the plunge with my current partner.
Are my shares of the properties protected in the event of a divorce, in lieu of a prenup? Could I simply transfer my shares to a family member before a divorce is filed?
What happens if I purchase a property after I am married, and decide to put the property under the LLC instead of a joint ownership with my husband – would that provide an extra amount of protection?I also work for the family company and have shares in it.
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