Since separation permits termination of accumulation of community property, each spouse can acquire property separately. But that does not end with the highest integrity and fair trade obligation that everyone owes to their spouse. This applies to all financial assets of general character. However, there are several tools to confirm that the real estate planner can use it as a means to protect the spouse's property and not to violate the trust duties.
Temporary or conditional will
This type of intention is a sound idea. You can change your existing will or you can reissue your existing will.
Contract after marriage
A contract after marriage is a written contract made when a divorce or conflict occurs, after a couple got married, or after joining a civil society to solve the affairs and assets of a couple.
Establishment of an independent real estate trust
An independent trust has separate real estate of each spouse. This includes the property received as a gift or inheritance, the property acquired prior to marriage, and the property to purchase those properties.
During divorce procedure
In the case of a divorce agreement it is a good thing to have a temporary detention order, either standard or automatic. These ordinances preclude the transfer or disposition of communities or distinct property from the court without written consent of the parties.
However, it is important to note that despite the constraint order, there are changes that the spouse can do. Spouses can create, change or cancel intention. To cancel a living trust as long as a change notice is submitted and it is being submitted to the other party. Eliminate the right to survive to property. Make an unrealized revocable or irrevocable trust.
When a person is in the process of divorce, as soon as submitting a divorce petition, we need to consider canceling it and creating a new will. He or she also needs to consider the trust, co-owner, death payment obligation. Another option that the parties have at divorce is to create untrusted trust. This serves as a recipient of previously received property.
After the dissolution of the marriage
Filling in marriage dissolution punishment automatically cancels all gifts donations on ex-spouses. A newly divorced person may be relieved with the recognition that its former spouse will be rejected by an existing trust or intention by its dissolution, but that judgment is also concerned with human real estate planning It may cause. For example, you need to modify the design of retirement plan (IRA, Roth, SEPs, 401k etc) and all beneficiaries of life insurance.
Real estate planning attorneys should note that newly divorced spouses will create appropriate documents such as new irrevocable independent real estate life trusts, real estate transfer certificates, asset handovers, proxy letters, progressive medical guidance as necessary You can help. By doing this, the newly divorced person will now offer the current real estate plan after marriage.
Also, if a new divorced spouse has a couple's new spouse or a partner in the family, you should seriously consider preparing for advance agreement. This agreement preserves a separate character or its assets, determines the characteristics of the new income, and handles issues such as spousal support and success in assets at the time of death. It is also important to consider the provision of trust living for new colleagues.
In order to make real estate planning effective it is essential and necessary to prepare the complexity surrounding the intersection of divorce, death, real estate trading. If you are considering divorce, or recently divorced, please consult a lawyer familiar with these issues. To deal with these problems, various profit changes, especially various investment, retirement system, insurance are essential.
EmoticonEmoticon