harry1965
New
Reged: 07/14/07
Posts: 3
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Hi, My fiance is buying a house before we get married in Virginia. Checking divorce law i can see she may be protecting that asset as it will always be hers because it was bought before marriage,if I understand correct. As I am selling my home to move into that home she is buying, what is my best way of protecting my asset (money from selling house) so that in event of divorce in years to come the guy comes off equal for a change. Should I bank into account under my name only or should I buy house before marriage so we are on equal terms. Its sad I have to think that way but so many divorce stories make me that way. Thanks for any help.
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Sarah1014
Platinum
Reged: 04/12/07
Posts: 2156
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That's a very good question that I have also. Does anyone know????
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theanswerguy
Platinum
Reged: 04/12/07
Posts: 2137
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Don't comingle the money with any marital assets and you should be safe , at least the principal would be , any increase in value could be subject to equitable distribution .. It's not necessarily true about the home she's buying , property can be considered both separate and marital if the other party actively increases the value of the separate asset .
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Never let your sense of morals get in the way of doing what's right. Isaac Asimov
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gigi
Platinum
Reged: 11/06/06
Posts: 4674
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consult a lawyer & get a prenup. This is not supposed to be a divorce protection thing where you start tlaking about the divorce decree before you walk down the aisle... it's supposed to be a LOVING thing where you each try to protect each OTHER from that possibility, or protect each other from claims that others might have, adult children from previous marriages, brothers & sisters who swoop in if you pass away, some other wacky thing... but don't look up divorce law in your state and try to protect your assets as if you were getting divorced.. And you can't completely protect yourself... heck, what happens if you move to another state that you've not protected yourself from?
Consult a lawyer for this. PLEASE.
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KGrow
Platinum
Reged: 01/27/06
Posts: 3059
Loc: Colorado
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What we did was buy the house together even before we were married. We both contributed to the down payment and we both contribute to the mortgage and we both live in the house. If there's a divorce, we'll clearly have to saw it in half. All of our other assets are in our own names are not commingled. We looked into a prenup but since are in the same league financially, it was deemed unnecessary.
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