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How to legally protect your assets from your spouse

| Jan 4, 2021 | Blog, Divorce, Family Law |

If you’re thinking about getting married in Louisiana, writing a prenuptial agreement is a great way to protect your assets in the event of a divorce. However, you might not be ready to disclose your assets to your spouse. Unfortunately, it’s impossible to write a legally binding prenup without disclosing the assets that you want to protect.

How do you write a prenup without disclosing your assets?

Typically, you’ll have to disclose an asset to your spouse if you want to include it in the prenup. However, there’s a way to get around this issue without breaking a family law. If you don’t technically own the asset when you sign the prenupial agreement, you won’t have to tell your spouse that it exists. And since you don’t own this asset, you won’t have to share it with your spouse if you file for divorce.

To relinquish ownership of an asset, you can simply put it in a trust and name someone else as the beneficiary. Technically, you won’t own the asset anymore because it won’t be in your name. When you want to use the asset, you can simply ask the beneficiary to add your name to the trust. This will make you a beneficiary, so you’ll be able to use the cash or properties contained in the trust, but you still won’t have ownership of the assets.

If you and your spouse stay married for the rest of your lives, you won’t have to disclose the assets until you’re ready. And if you file for divorce, you won’t have to share the assets in the trust with your former spouse. It’s a creative way to protect your assets without illegally hiding them from your spouse.

What should you do if you’re served with divorce papers?

When your spouse announces that they want a divorce, it’s important to act as quickly as possible. Hiring an attorney should be the first decision that you make before you do anything else. An attorney could help you make important decisions now that could have a massive impact on the case later, especially if it goes to trial.