Marriage

Before Marriage:

Put Your Existing Assets into a Trust - Now you technically don't own them and now she does not either.

The proper use of the proper trust allows one to :  

• Preserve and protect assets
• Defer, or eliminate estate tax liability
• Increase opportunities for accumulation of wealth and estate growth
• Isolate assets from litigation and liens
• Create a family estate plan that will work for generations
• Privacy
• Avoid lawsuit & judgment losses
• Enjoy Privacy in business
• Utilize Asset and income diversification
• Provide for custody of children's funds
• Protection for retirement savings
• Avoid probate and estate taxes
• Facilitate the transfer of the estate to the heirs
• Protect assets in the event of bankruptcy
• Protect assets in the event of a divorce

Trusts are and have long been recognized as legitimate entities that can be or own businesses, land, farms, manufacturing, rental property, etc.

Consult a Financial Advisor , bank & Attorney before setting up a Trust.

Cohabitation Agreement - If living together prior to marriage to avoid common law marriage write a cohabitation agreement.

Prenuptial Agreement - Never Marry without one!  Include: Infidelity clauses, Retirement, Finances.

During Marriage:

Never Put All Your Money into Joint Banking Accounts - A spouse could clean the bank accounts out and leave you with nothing...and it's legal.

Fund Retirement Accounts Equally - Never have one retirement account (Prenuptial Agreement) Remember she get half at 65 even if you were married a short time.

Gift up to $10K to a Family Member You Can Trust per Year - It's tax free and It's your "In Case of Divorce" Safety Net.