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.