Legal Question in Family Law in Pennsylvania
Protecting my assets
I am in the midst of purchasing a house with my fiancee who has never been married but has 2 children. The mortgage will be solely in my name but we will both claim it as our primary residency. I also have a separate property which will remain as so after the marriage. How can I protect the new house from any claims for child support,etc.. He pays $1000/mo in child support which more than covers their living expenses. If I choose to sell my sep. prop. to buy the new house, would the new house be considered sep. prop. by virtue of using those assets alone or is a prenupt/cohabitation agreement necessary? I am the major financial contributor but we will share all living expenses. Also, how do I protect my assets from a claim from his children? Thank you for your time.
1 Answer from Attorneys
Re: Protecting my assets
The best way to protect an asset from one�s creditors is to not have it in your name. Therefore, the most effective protection is for the house to be in your name only.
I am happy to discuss this in greater detail on a free initial basis.