Legal Question in Family Law in Illinois

Prenuptual assets

I am a recently engaged male. My fiance has much debt and I have none. My premarital net worth is much more than her's. All my net worth is wrapped up in the equaty of my one rental income property. I like to take precautions without telling or alerting her. Prior to the marriage is there a way,short of a prenuptual agreement, to protect my assets in the case of a divorce later? If I put the property into a trust in my name will that help?


Asked on 2/19/02, 1:48 am

1 Answer from Attorneys
Sanford Martin Martin Law Office

Re: Prenuptual assets

Assets and debt acquired during the marriage, with certain exceptions such as inherited property or gifts, are generally considered marital property and subject to division by the court. A prenuptial agreement is the best way to agree to this division before marriage. Assets acquired before marriage are not marital property; in the case of the rental property, an appraisal to determine the value before marriage is suggested. During the marriage, keep title in yourself only, a corporation owned by you, or a revocable trust.

Having said this, in contemplating marriage, I advise you to be as open, honest, and trusting as you can be. The principal marital property is the marriage itself and the time you devote to it.

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Answered on 2/19/02, 10:12 am


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