Legal Question in Family Law in Connecticut
Protecting my assets
I purchased a house on my own without my husband, using my dads inheritence money so I would have rental income and my own assets for my future. I am going to file for divorce in my near future and I dont want him to try and get any percentage of my investment property. he has not been a provider at all and I have had to support my family 80 to 90% myself and I want to know if I can transfer the property to my son(for a 1$) prior to filing so that my husband cant touch that, its bad enough that he can get any percentage of our main residence but i want to keep my inheritence investment. is this possible? or should I dump it into an LLC or a corp??
1 Answer from Attorneys
Re: Protecting my assets
Generally speaking, things acquired during the marriage by inheritance are left with the party who inherited it. The appreciation in value is up for grabs (not that he'd necessarily get it), but not the initial value of the item. So it becomes important when you got it, its value then and its value now. As to transferring it to someone else, or an LLC or something, that won't help. Maybe if you transfer now and wait ten years to file for divorce, it might work, but that kind of quick shuffle just before filing is simply ignored by the court. They would pretend you still had the asset and give him an equivalent amount out of some other asset to make up the difference. But remember, if he was such a loser as you said he was, he might not get anything at all.