Legal Question in Family Law in Massachusetts
assett ownership?
I am a single female with a large investment portfolio. If I get married, would my husband automatically have access to my money? If I were to get married and then divorced, would the money I invested prior to marriage be divided?
3 Answers from Attorneys
Re: assett ownership?
The issue you raised involves marital property. All property, personal and real, acquired before and during the marriage is considered marital property. Your furture spouse would not have the right of access to your money during the course of your marriage. However, in the event of a divorce, he would be able to claim 1/2. You should not commingle assets and you should consider getting a pre-nuptual agreement.
Re: assett ownership?
If you get married and you keep everything in your name, your Husband will not have access to your portfolio. But on divorce, that is a different matter. The portfolio could be divided, especially if your marriage continues for more than 5 or 6 years. The answer to protect your assets is a prenuptial agreement. If you would like one drafted call me or one of the other lawyers who have responded.
Re: assett ownership?
Marriage, a creature of law, has many pitfalls.
Over and above a prenuptial, which requires full and complete disclosure of all of your assets, you could transfer title of the property or assets to a trust or some other person or entity. This may create a partial curtain, but not a complete one.
As you can see this is not a simple situation and it does have its pitfalls.
You can call me and I will be glad to discuss this with you.