Love is in the Air-Asset Protection Trusts Alternative to The Uncomfortable Pre-Nup Conversation

Many of us would like to believe that when we tie the knot, it will never unravel. However, a considerable number of marriages end in dissolution. Prior to walking down the aisle, it is important to consider a variety of estate planning techniques. A layered approach is the best option through the use of pre-marital agreements, separate property trusts, and most importantly, asset protection trusts, which can preserve your hard-earned assets in case of a future dissolution.

Prior to taking the plunge, the thought of a pre-nuptial agreement may seem off-putting because we would like to believe that someone is marrying us because of true love, not for what our bank accounts look like or the lifestyle we can provide. Unfortunately, that is not always the case. A pre-nuptial agreement is an easy way to prepare for the possibility of future dissolution, however remote it may or may not be. If you choose to take no action via a pre-nuptial agreement or the deployment of other estate planning techniques, you are potentially exposing yourself to a loss of wealth at dissolution.

All of your assets earned and held prior to marriage are yours alone, versus the community property presumption after marriage with a 50/50 split between you and your spouse for assets earned and acquired during the marriage. Let us help you protect your individual assets now while you can. One option that can be used in place of a pre-nuptial agreement is high-level estate planning with an asset protection structure, located domestically or offshore. This is an alternative way to divorce-proof your assets.

Asset protection trusts are a way to protect your assets from frivolous lawsuits and creditors, including a future ex-spouse. While the structure requires ceding legal ownership of certain assets, we ensure your management of and benefit of the assets, if the structure is crafted properly. Through the use of an asset protection structure, your estate and assets will not only be legally protected, but also protected in the event of a divorce. Contact one of our knowledgeable attorneys today to learn more about how asset protection can serve an imperative role in your estate planning in anticipation of marriage. Call Tresp, Day & Associates, Inc. today at (858) 755-6672 to schedule your consultation and begin your pre-marital planning today.