Creditor and liability problems arise from a variety of sources, including divorce. Asset protection for divorce involves actions taken by a spouse who wants to protect his or her financial future and avoid an unjust property division award. Marital property is subject to division in divorce.
Some couples chose to sign a Prenuptial Agreement before marriage or Post-Nuptial Agreements while married to protect individual assets. The agreement define their property rights and expectations upon divorce. The agreement is also used to waive certain spousal inheritance rights, establish designated alimony, or even waive alimony, under certain situations. Courts will usually respect such agreements if they are drafted properly.
An interesting discussion of why you need a Prenuptial Agreement
ABC News DVD discussing Prenuptials, click
For Technical Information About Pre and Post Marital Agreements and Divorce
Please Click to My Book.
Chapter 7 | Prenuptial & Postnuptial Arrangements §7:70
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We do not limit your planning to any one strategy; however we do limit ourselves to legitimate time-tested business and asset protection structures. Our job is to help you build and implement a strategy that fits your life-long needs. Your plan can encompass your business, your home, your personal life, your generational wealth, and succession planning. We start out with the premise that all options are on the table and then develop a strategy that meets with your goals in this ever-changing global environment. |
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