Q: Do I have 100% ownership and control of a pre-marital house and savings in a bank?
If I own a house (no mortgage) and savings in a bank and then get married (the house and account are still under my name only),
(1) During marriage, do I have 100% ownership and control of the house, e.g., deciding to give it as a gift to my parents, and deciding who are allowed to live in it? Same question for the savings - can I control them 100%?
(2) In the event of a divorce, do I still have 100% ownership of those pre-marital properties?
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A: You need to have an in person consultation with an experienced matrimonial attorney to advise you of your options. A prenuptial agreement to protect your assets will almost certainly be the best way. Pick the best lawyer you can find and remember one rule: a good lawyer is generally never cheap, and a cheap lawyer is generally never good so don't choose based on price.
A:
Thank you for your question.
Real estate acquired by one party prior to the marriage is typically considered pre-marital property; however, there are exceptions. The appreciation of the marital property can be a marital asset. Marital assets used to support the separate property can be a marital asset, and cohabitating in the home with your spouse may make it a marital asset. As long as your savings account is kept separately and the funds are not used towards any marital expenses, then it may be considered separate property. Once you comingle those funds with marital funds and/or assets, it may be considered marital property. I suggest that you meet with an experienced family law attorney who can assess your situation in further detail and help you protect your rights.
I hope this information was helpful to you.
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