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RayAnswers, Lawyer
Category: Family Law
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Experience:  30 years as a family law lawyer .
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After a 3 years relationship, I recently got married to a

Customer Question

hello,After a 3 years relationship, I recently got married to a wonderful physician who will soon start making triple of what I make now. Prior to that, I had lost my business after hurricane Sandy in 2012 and had spent at least a couple of years paying debts and the recovery was slow...my question is how can I protect my wife and her assets from being affected by any claim from the IRS or debtors or whomever?
is that hard to achieve due to the fact that we are now married or are there measures (including changing the company from a c corp to an LLC, etc - btw, I work now in advertising) to shield her from any lawsuit or claim?thanks
Submitted: 1 month ago.
Category: Family Law
Expert:  Legal Eagle replied 1 month ago.
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Customer: replied 1 month ago.
hello,
when should i expect an answer to my question ?
Expert:  Legal Eagle replied 1 month ago.

My sincerest apologies. The system is imperfect and I was unable to find this question after my initial post. However, I don't want you to wait any longer than necessary for an answer so let me opt out and let another expert take over. PLEASE DO NOT RATE as your question may be closed by the moderators and you won't get your question answered. Thanks again and my sincerest apologies.

Customer: replied 1 month ago.
I am reposting the question here-below for your perusal.I hope you didn't make me wait in vain....hello,After a 3 years relationship, I recently got married to a wonderful physician who will soon start making triple of what I make now. Prior to that, I had lost my business after hurricane Sandy in 2012 and had spent at least a couple of years paying debts and the recovery was slow...myquestion is how can I protect my wife and her assets from being affected by any claim from the IRS or debtors or whomever?
is that hard to achieve due to the fact that we are now married or are there measures (including changing the company from a c corp to an LLC, etc - btw, I work now in advertising) to shield her from any lawsuit or claim?thanks
Expert:  RayAnswers replied 1 month ago.

Here a post nuptial agreement is possible, this would keep your finances and debts separate her after marriage.

Sample forms

OSTNUPTIAL AGREEMENT
THIS AGREEMENT (the “Agreement”), made this____________ day of ___________________, 20 _____ by and between _________________________ of _________________________________ _____________________________ (the “Husband”) and _______________________________ of _______________________________________________________________ (the “Wife”).
RECITALS
WHEREAS, the Husband and Wife are married on the _____________ day of ___________________, ____________ under the laws of the State of _______________; and
WHEREAS, the Husband and Wife wish to enter this Agreement to establish the ownership and division of property between them, including any future property that may be acquired by either or both of them, in the event of divorce, death, or other circumstance that results in the termination of their marriage; and
NOW THEREFORE, in consideration of the intended marriage and of the mutual promises and covenants of this Agreement, the Husband and Wife hereby agree as follows:
PURPOSE
Both Husband and Wife currently own certain real or personal property, individually as mentioned on the Exhibits A and B attached to this agreement. Both Husband and Wife wish to make a clear record of their intents with respect to the control, management and operations of their properties and debts. Now the parties wish to set forth in this Agreement their respective rights in and to all property either owned at the date of their marriage and in and to all property that may be acquired by either or both of them after their marriage, in the event of a divorce or dissolution of the marriage, or on the death of one of the parties.
SEPARATE PROPERTY
Husband and Wife shall separately retain all rights in the property which he or she now owns, or may own or acquire separately in future including all appreciation, as well as any income acquired separately in the future ("Separate Property"). Complete lists of each Party’s Separate Property are attached to this Agreement as Exhibits A and B. Separate property shall also include gifts or inheritances one party receives from a third party. The Husband and Wife shall have the unrestricted right to dispose of such Separate Property, free and clear of any claim and with the same effect as if no marriage had been consummated between them.
JOINT PROPERTY
All property not specifically deemed Separate Property will be considered Joint Property of the Husband and Wife (“Joint Property”). In the event if the Husband and Wife become separated or divorced, or upon the death of a party, all Joint Property will be deemed to be owned in the following manner:
______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
WAIVER OF RIGHTS
The Husband and Wife hereby mutually waive, release and relinquish any and all right, title or interest whatsoever, whether arising by common law or present or future statute of any jurisdiction or otherwise, in the Separate Property and probate estate of the other, including but not limited to distribution in intestacy, the right of election to take against the will of the other, any rights accruing by reason of events occurring prior to their marriage, and any right to dower, courtesy, statutory allowances, and spousal support. Such waiver, release and relinquishment shall not apply and is not effective with respect to any rights or entitlements a party may have as a surviving spouse under the Social Security laws or with respect to any other governmental benefit or governmental program of assistance.
ALIMONY OR SUPPORT
The Husband and Wife hereby specifically agree that neither shall make any claim for or be entitled to receive any money or property from the other in the form of alimony, spousal support, or maintenance in the event of separation, annulment, dissolution or any other domestic relations proceeding of any kind or nature, and each of the parties waives and relinquishes any claim for alimony, spousal support or maintenance, including, but not limited to, any claims for services rendered, work performed, and labor expended by either of the parties during any period of cohabitation prior to the marriage and during the entire length of the marriage. The waiver of spousal support shall apply to claims both pre and post-judgment.
ERISA RIGHTS
The Husband and Wife specifically waive any right, whether created by any statute or otherwise, to pension, profit-sharing, or other retirement benefits earned by or credited to toe other, including, but not limited to, any joint or survivorship rights and any right which might arise in the event of the parties' separation or the dissolution of the marriage.
ADDITIONAL DOCUMENTS
Upon the solemnization of the marriage, each party shall execute such waivers or other documents as the other may reasonably request to evidence such waiver.
RIGHT TO CONTEST
Nothing contained under this Agreement shall limit the right of any party to contest any domestic relations suit between the parties or to file a countersuit against the other party. However, in any hearing on such suit, neither party shall maintain any claim or demand whatsoever against the other for property, suit money, attorney fees and costs which is either inconsistent with or not provided for in this Agreement.
ENTIRE AGREEMENT
This Agreement sets forth the entire agreement between the parties with regard to the subject matter hereof. All prior agreements, covenants, representations, and warranties, expressed or implied, oral or written, with respect to the subject matter hereof, are contained herein. All prior or contemporaneous conversations, negotiations, possible and alleged agreements, representations, covenants, and warranties, with respect to the subject matter hereof, are waived, merged, and superseded hereby. This is an integrated agreement.
BINDING ON SUCCESSORS
Each and every provision hereof shall inure to the benefit of and shall be binding upon the heirs, assigns, personal representatives, and all successors in the interest of the parties.
SEVERABILITY
In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of this Agreement shall then continue in full force and effect. If any provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope and breadth permitted by law.
MODIFICATION
This Agreement may be modified, superseded, or voided only upon the written agreement of the parties. Further, the physical destruction or loss of this Agreement shall not be construed as a modification.
ACKNOWLEDGEMENTS
Each party acknowledges that he or she has had an adequate opportunity to read and study this Agreement, to consider it, to consult with attorneys individually selected by each party, without any form of coercion, duress or pressure. Each party acknowledges that he or she has examined the Agreement before signing it, and has been advised by independent legal counsel concerning the rights, liabilities and implications of this document.
GOVERNING LAW
Without regard to the location of any property affected by this agreement, this Agreement shall be interpreted and enforced under the laws of the state of _______________________________.
IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the date set forth below.
___________________________________ ______________________, 20__
Husband's Signature Date
___________________________________ ______________________, 20__
Wife's Signature Date

WITNESS
Print Name: _________________________________
Signature: _________________________________
Address: _________________________________
Print Name: _________________________________
Signature: _________________________________
Address: _________________________________

State of_______________________
County of _____________________
On this ___________day of ___________, 20_____, before me, the undersigned Notary Public, personally appeared __________________________________________ and _______________________________________, personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons who signed and executed the foregoing instrument in their authorized capacity.
My Commission Expires: _____________

______________________________
Notary Public

You can use this to make sure your debts here are yours and hers are hers.I would file married filing separately as well to keep her returns separate from you.

I appreciate the chance to help you today.Thanks again.

If you can positive rate 5 stars it is much appreciated.

Expert:  RayAnswers replied 1 month ago.

Sorry typo on title

POSTNUPTIAL AGREEMENT

Customer: replied 29 days ago.
We didn't do a prenuptial agreement, so I'm not sure I understand why would I want to sign a post nuptial agreement.I'm not objecting, I'm just not understanding the reasons behind it.my aim is to protect our family from outside threats, not to protect her from me. At any rate, how can a post nup be of value in case the IRS or a debtror comes after me? kindly elaborate.
Expert:  RayAnswers replied 29 days ago.

You would be allowed to sue for breach of contract.It would allow you to divide assets and liabilities and keep finances separate.

Customer: replied 29 days ago.
sue who? my wife?
that is not what i am looking for.
If anything I want to protect her assets from anyone suing me.
are we talking about the same thing here?
Expert:  RayAnswers replied 29 days ago.

Here you claim the IRS debts and cards you want to assume in order to protect your wife.Otherwise if you marry here she may become liable.If you want to protect here you assume the debts in writing.

Expert:  RayAnswers replied 29 days ago.

You can do that by post marital agreement.