Nashville, TN asked in Estate Planning for Tennessee

Q: I am marrying on 7/7. If I put assets I want to protect in a revocable living trust before I marry, will this suffice?

We were gonna do a prenup but we did not realize it was so complicated. All I need to do is protect some assets(i.e. inheritance, brokerage accounts, etc.) from my future wife's creditors, lawyers, or a judge in the unlikely event of a divorce. We have cohabited for 12 years and all our finances are already separate and have been the whole time. I just want to protect large assets. Will this work? A revocable trust? Because another attorney said that should be ok in Tennessee. We have a common law property law.

Related Topics:
1 Lawyer Answer
Bennett James Wills
Bennett James Wills
  • Brentwood, TN
  • Licensed in Tennessee

A: Assets in your name acquired before marriage are not marital property by statute. Those items cannot be garnished just by way of marriage; a judgment of any type would need to be against you for a creditor to garnish/levy the asset. If you have significant pre-marital assets, you would be wise to consult with local counsel (alone) to discuss your goals and to determine whether you need a trust, and to help you craft a prenup.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.