Legal Question in Family Law in California
Keeping assets secret on Prenup
HI,
I saw the invitation to ask questions on your website--so here goes:
I am 49 and thinking of getting married for the first time. My boyfriend does not know I have almost million dollars in assets since I live very simply. I don't want him to know this. I want to make sure this marriage is based on love and not money.
If I do a prenup--do I have to reveal my current assets to him? Or can I still keep them private until I feel like telling him this information, if ever?
Thanks!
Carolyn
4 Answers from Attorneys
Re: Keeping assets secret on Prenup
I opine that you must do full disclosure of your seperate assets, exclusions, etc., in your pre-nuptual agreement for it to be legally binding. If your future husband executes the agreement after full disclosure and having the opportunity to have it reviewed by counsel, it should be iron clad unless you commingle community income with your seperate property. With 1 million in assets you should definitley retain an attorney to draft the pre-nuptual agreement!
Reply: Keeping assets secret on Prenup
In order to have a valid pre nuptial agreement, both parties are required to make a disclosure of their respective assets and debts, so that a waiver of interest can be knowingly and intelligently made. There may be a way to protect your separate property assets from ever becomming community property by operation of law, depending upon what your assets consist of and how you decide to manage your investment portfolio after your marriage. Protecting the income from your separate property from becomming available for purposes of spousal or child support is much more problematical.
For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced family law lawyer. Experience is not expensive, it's priceless!
You will find some valuable information on various California family law issues by visiting my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Keeping assets secret on Prenup
1. With assets like that, get off this site and hire an attorney and an accountant. I think you can write a prenup that agrees to less than full disclosure.
2. More importantly - What are you doing marrying someone you don't trust with the truth. If you suspect you can't trust him, don't. Listen to your heart, not your head.
Re: Keeping assets secret on Prenup
A Prenup is not worth anything unless you disclose the amount of your assets and advise your new hubby to seek legal advice.