A better way is to create a separate IRA or 401K account, contribute to it while single, then stop contributing completely before being married... then it will grow and it is never commingled into the assets.
I can understand getting a prenup or postnup. It's like fire insurance...you hope to never need it, but it's there if you do. And it's done with the knowledge and consent of both parties.
I cannot imagine being so cynical about marriage and about my future spouse that I'd do something like this! I'm getting married next month and if I discovered my husband did something like this I'd be livid.
What's so bad about expecting to be the one with a "long, sound marriage"?
My solution is this: Know who you're getting married to, and if you have any doubts like this, don't get married.
Sounds pretty good to me. Instead of all of those self-help books and marriage counseling, there should be some classes on how men can keep some their money.
For those who don't know, the "Hoosier Gazette" is kind of a local version of "The Onion". Not quite as funny for non-Hoosiers who don't always get the in-State jokes.
Been married 42 years, Long enough to know the basic principals of marriage are love and trust.
How can anyone trust a person who has secretly salted away funds for a divorce. My advice is if you dont trust the woman you are marrying , dont marry her.
Never , ever let a good piece of tail enter your thoughts of marriage. too many men think with the little head. Marriage is a lot more than sex.
This is always a good idea. State laws vary but a good rule of thumb is to assume all you aquire before is yours and ANYTHING after the marriage is 1/2 exposed to a claim.
Simply not co mingling is no protection (particularly in community property states). Pension funds are subject to QDRO orders which divide the increase of the pension during the course of the marriage.
Of course it is still the story that men do not claim against the woman's assets. You should see the shock in a womans face when she realizes the pension fund she built up at the expense of her soontobeexehusband is only 1/2 hers. Men are only now realizing they do have rights during the marriage and women are realizing that playing fast and loose with information can not work against a forensic accountant.
Jennifer Tilly, where are you when we need you.
It doesn't matter - she'll still get a least half...
Man, you'd better trust that relative and HIS wife.
...just one of the symptoms of a bad attitude going in.
I realize most states require that insurance policies cover only fortuitious events, but I wonder how long before it comes to "divorce insurance." In fact, I wonder if Rush Limbaugh has such coverage....though he is a very high risk.....
Not only a prenup be good but possible setup your assets in a trust to where she cannot get access to it. A trust is not for executives/elite only but can be used by ordinary people as well. I'm divorced myself and if I get married again, I will do these items.
BUMP
Heck, these men aren’t getting good advice. They should be advised to setup offshore foundations. In those foundations they can place their house, cars, bank accounts, clothes, etc., and nobody will be able to touch it or claim it but the individual. In these offshore foundations, the person can leave a last will and testament and/or instructions dictating to whom and how his possessions should be distributed should he become incapacitated (mentally) or die. Also, their names do not appear in any public document; therefore, nothing can be traced to the “owner.”
The solution: lacking adultery or abuse, or any other serious deformity in the marriage, the suing spouse gets nothing: no kids, no money, no assets. Someone wants out of marriage for personal convenience, go out on his/her own. In other words, do away with no-fault divorce.
“Let’s face it,” added Haus, “The man is the one who almost always get screwed over when a divorce occurs. Even though he usually made more money than the woman in the marriage, he loses the house, and ends up paying child support since the woman will get custody of their offspring. This new trend just provides him with a little insurance so he can enjoy a decent standard of living.”
Yes, the woman makes out like a bandit. Typically in her mid-thirties with a couple of kids -- now there's the kind of hot prospect guys are looking to date/marry.
question:
say a parent sets up a trust fund for their child as beneficiary and when they are old enough they can administer it as well. the child gets married and some time later gets divorced. Does the other spouse get half the trust fund? I mean isn't that how the wealthy protect their estates for their children.