Just in case

[Jeff_Monroe]

I'm thinking of getting married, but wanted to protect some of my money before doing so. I am not interested in a prenup.

I am seeking to put aside a nest egg for myself that can't be touched during a divorce.

I was once told to create a seperate legal entity and file the fund under that name, but I can't remember the term.

Is this the best way to do this?

Must it be done before getting married?

What would you recommend?

Thanks.

 

[lwpat]

What they are talking aobut is a living trust. Just as effective is to set up a separate bank account. You can do this as a trust also so if you die it will pass outside of your estate. You just have to be very careful not to use the funds for marital purposes or add to it with marital funds.

 

[Jeff_Monroe]

living trust

thank you lwpat

In researching a living trust is all seems to be about the death of the owner.
Is it tread the same in a divorce?

Are there pros/cons taking out a living will vs. seperate bank account?

By seperate bank account, do you mean under a new legal entity or still under my name?

i.e. what is the most surefire vechicle to save my funds?

Thanks.

 

[lwpat]

The key is to keep your property totally and completely separate and not use it for any marital expenses. Any way that you do it is OK as long as you can prove all the money came from you prior to the marriage.