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5 Tips to Protect Assets Before Marriage
Take Off Those Rose Colored Glasses

Protect Assets Before Marriage

You can protect assets such as a money, your car or home before you marry. Your assets — your separate property — can remain your separate legal assets unless you “commingle” with the separate property your new spouse.

Protect Assets Before Marriage

Take Off Those Rose Colored Glasses – Protect Your Assets

If there was a 41 percent chance of winning the lottery, wouldn’t you stand in line to purchase as many tickets as possible? Yet with more than 41 percent of first marriages ending in divorce and more than 60 percent of second marriages ending in divorce, many do not make any effort to protect assets. The best time to protect assets is before you walk down the aisle. One well known form of protection for separate property assets is the Prenuptial Agreement. However, Prenuptial agreements are often contested and have clauses eliminating or limiting alimony which may not be valid if the spouse is injured or terminally ill. Therefore prior to marriage, other steps need to be taken to protect your assets.

5 Tips to Protect Assets Before Marriage

(1) – Do not commingle your prior to marriage and post marriage funds. Open new and separate savings and checking accounts to be used after marriage.

(2) – Be prepared to pay the mortgage with funds accumulated prior to marriage or from income produced by an asset acquired prior to marriage, if you and your new spouse are planning to move into a home purchased prior to marriage.

(3) – Consider placing separate property assets in an irrevocable trust. The trust will clearly define what assets were acquired prior to marriage. Also the settlor, the creator of the trust, gives control to a trustee, a third party. Consequently, creditors usually are prohibited from touching the assets of an irrevocable trust. When assets are divided in a divorce, third party creditors often seek any funds owed to them. But an irrevocable trust will not protect you from a spousal or child support claim or any federal or state tax claim. A revocable trust unlike the irrevocable trust, passes ownership when the settlor passes away. Unless there are provisions indicating what will happen in case of a divorce, the trust will be prohibited from being revoked or changed during the divorce. Only the court can determine whether the trust can be revoked or changed. This leaves open the possibility for the court to change a beneficiary to a third party creditor. However, placing your assets in a revocable trust will still clearly define which assets are your separate property in the event of a divorce.

(4) – Consider placing your assets in an offshore protection trust. This will ensure that creditors cannot touch the assets. The California courts have no jurisdiction regarding offshore trusts. Therefore, any court order allowing a creditor to have any part of the assets would have no effect.

(5) – Invest in pension plans, defined contribution plans, and in 401 (k)s. These funds cannot be touched by creditors unless the creditor is owed spousal or child support. On the other hand, distribution of IRA funds to creditors is at the discretion of the court.


Is Marriage In Your Plan?

If you are considering marriage and have considerable assets or inheritance, consider talking to Ryan Family Law Group to investigate creating a prenup or setting up finances such that inadvertent commingling does not put your separately owned assets at risk.

Is a Divorce on the Horizon?

If you own valuable assets, property or a business, your divorce filing will be more challenging. San Diego divorce attorney Paul Ryan will work closely with you and fight to get/keep your desired marital assets. He will help you organize your finances and make sure that you are set up for long-term financial success.

Ryan Family Law Group offers a free consultation to all potential San Diego divorce clients. We will go over your case details and determine if alternatives to divorce, such an annulment, are possible. You can schedule your free consultation by calling us 858-222-6600, texting us or by emailing us.

I’ve been working with Paul Ryan on a difficult case for over a year and he has been a God-send. He is smart, personable, very down to earth and a fighter. I had two terrible experiences previously with different SD firms, and hiring Paul has been a welcome breath of fresh air. I would highly recommend Paul, especially for active duty military and veterans.

Charles
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23:06 03 Jun 21
Called to schedule a complimentary consultation expected to either not get a call back or, get a sales pitch. Neither... happened! Mr Ryan called me at my requested time and gave me valuable, important information. He provided me answers to specific questions regarding my situation. I now feel much more prepared and confident going forward. If you need some answers to your questions that may lead to action you take, call Paul Ryan.read more
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Diane Kocheran
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Paul Ryan helped me to keep my Alimony after my ex husband tried to end it. Paul, along with his incredible office... staff was very honest with me, always quick to answer all my questions, quick to call me back and even gave me discounts when paying my bill on time. This law firm is incredible and I would recommend them highly. I live in Las Vegas and we did everything over the phone. The hearing was in San Diego.They really care about their clients and this was a difficult case. Thank you Paul and your entire office staff. You all are truly one of the greats and I appreciate all your hard work on my case. Thank you.read more
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Paul Ryan and Ryan Family Law did an outstanding job with my recent matter. Paul was very responsive to my inquiry and... matched me with one of his excellent attorneys, Paula. Paula was extraordinary! She was professional and conscientious. She developed a successful strategy and assisted me throughout the process and ultimately achieved exceptional results. I would recommend Ryan Family Law to anyone facing a family law matter!read more
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Paul Ryan is awesome veteran attorney willing to help veterans. He took the time to call me back and go over my case... with me even on the weekend! I would recommend him and I'm definitely keeping his contact in my phone book.read more
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I could not be more impressed by the actions of the Ryan Family Law Firm. I contacted them on a weekend and was... expecting a call or email on Monday, but instead I was called within the hour and the plan to resolve my issue immediately started. I look forward to continuing to work with Paul, Paula and the rest of the firm and I have no doubt they will give me exactly what I want. Paula did an amazing job representing me and giving me a taste of what is to come.read more
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00:26 29 Feb 20
Paul Ryan is bright, very experienced and will have your back 100%. He is a great attorney who is able to explain the... ins and outs of family law with clarity. He also is a man with a great deal of integrity - you can definitely trust Paul with your case. Highly recommend.read more
Scott Goodman
Scott Goodman
04:49 22 Nov 19
I have nothing but great things to say about Ryan Family Law. As the respondent in a divorce action, Ryan Family Law... (Paul Ryan, founder) consulted with me very thoroughly and my attorney (Paula) was just SO impressive with her attention-to-detail approach to my case. All contacts – email or phone call – made by me were always returned promptly (often in less than an hour) if my attorney was not readily available at that moment; at her end Paula kept me very, very well informed on all issues and movements associated with my case. Legal terms and common Family Law abbreviations were always explained to my satisfaction and understanding; communications with my attorney Paula or support/administrative staff was always prompt, professional and informative. Paula appeared in court alongside me or appeared on her own (as needed, recommended or prudent) and engaged opposing attorneys with tenaciousness and surgical precision on my behalf, resulting in a well-designed and favorable settlement.I would not hesitate to provide my most positive endorsement and candid recommendation for Ryan Family Law for persons wanting a tenacious and thorough approach to representing YOU for family law matters needing thoroughly professional handling and getting the highest possible probability for a favorable outcome.read more
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Three Convenient Locations For Your Service

We strive to make our clients’ family law cases as stress-free as possible. Mr. Ryan is an accomplished family law attorney who can meet at an office near you. He will handle the challenges of your legal matter while you focus on taking care of your family. You can schedule your free consultation any of our three San Diego offices by calling us now.

Ryan Family Law Group

Three Convenient, Inviting Office Locations In San Diego County
Rancho Bernardo 11440 W Bernardo Ct
Suite 300
San Diego, CA 92127
858-692-5153
North County 2173 Salk Avenue
Suite 250
Carlsbad, CA 92008
760-259-0800
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