Protecting Assets From a Divorce

Discussion in 'Professional Trading' started by aeliodon, Oct 30, 2008.

  1. I'm gonna get married in 2009.

    I will ask for a prenup. But I hear that in most foreign countries, prenups are not recognized by the courts. I also hear that in America, whether a prenup is upheld or not largely depends on the judge.

    So I ask, what are some other ways to protect assets from a divorce?

    For example can having all your money in an LLC/partnership/corporation protect your money in they same way it would if you get sued?

    One thing I realize is that no woman can ever be trusted especially if she is with a rich man. If a girl is married to a guy with say 10 million, what's to stop her from saying hey let me dump this guy, take his kids, take half his money, and retire. Money is what attracts girls to very wealthy men and it is what provides them with a powerful incentive to divorce them.
  2. With most American adults divorced at least once before age 50, why are you doing this to yourself? If you're that worried about your money you need ask yourself what's most important in your life.
  3. jem


    I am not a family law attorney... but I am a CA attorney. as of the last time I checked. a well drafted prenup in which the offended party was advised by counsel prior to signing - holds up very well in California.

    I have not read anything to change what I learned. So, I would bet if you did a quick search on the internet you would confirm what I am saying.
  4. According to wiki, the following is needed for a prenup to be upheld:

    1. agreement must be in writing (oral prenups are always prohibited);
    2. must be executed voluntarily;
    3. full and/or fair disclosure at the time of execution;
    4. the agreement cannot be unconscionable;
    5. it must be executed by both parties (not their attorneys) "in the manner required for a deed to be recorded", known as an acknowledgment (law), before a notary public.
  5. BSAM


    Don't do it, bro.
  6. People are "supposed" to marry during bull markets, not bear markets. This is the time for divorce. Your timing is way off. :cool:
  7. G-Boa


    I am no legal professional, but went thru this a couple years ago....

    Call a few divorce/family lawyers and see how they are on the phone - visit one or two and ask them a bunch of questions concerning your business and your intent and whatnot. Make sure they understand your position and are able to word a contract/prenup to cover you completely, and then some.

    Have your 50 page + prenup drafted and go over it word by word with your lawyer.

    Have your lawyer draw one up for your wife-to-be. Have her to make an appointment with an attorney of her choice. Have her meet with that attorney, with your prenup, and have him explain it word for word to her (this has nothing to do with you and is completely her business, so you will not be involved in this process - and legally should not be, except to have her do it prior to marriage), then have your fiance and her lawyer sign it and notarize it stating that the contract has been professionally explained and every party understands every party, every page initialed etc etc - you know, the usual....

    You will take a lot of heat from your girl, trust me, my wife's lawyer told her she must be out of her mind to sign something like nimble, be quick, and good luck!!! :)
  8. rros


    Set up an offshore corp owned by a trust in Nevis.
  9. Someone once explained to me that one's wife is a 'supercreditor' who has about the same status as the IRS in terms of what they can access.

    Prenup probably works best if she is coming into the marriage with her own wealth.

    Seems to me that marrying the right person is your best defense.
  10. Get a first-hand recommendation as to who is the absolute best divorce lawyer in your state, and go see them no matter what it costs.
    #10     Oct 30, 2008