Protecting REI Biz pending divorce

Hi Everyone,

Been a while…

I know this isn’t a popular topic, but I need some guidance. My spouse and I have been separated for a while now. I have done what I had to do to get myself out of debt, and save money so that I have a cushion for investing.

I would like to begin rehabbing properties. What can I do to protect my assets from my spouse?

Offline emails are also welcomed.

Thank you,

CC

You buy a property and place it in a land trust taking title in your LLC.

Da Wiz

If you live in a community property state, any property acquired while married (ie: not yet divorced) may be considered “joint” property, whether or not it’s in a trust.

Thanks, gentlemen. Would either of you have a referral to a colleague here in Maryland? My network of quality ppl is limited. I am seeking a competent attorney and CPA for my divorce and business.

CC

sorry, but I know of no one.

Maryland is not a community property state. As I understand it, Maryland does not have a legal separation, though the parties must have been voluntarily separated at least one full year before an absolute divorce will be granted.

Suggest you and your spouse sign a written separation agreement which stipulates that property acquired after the agreement is in force is separate property and not part of the marital estate.