Hi, if one purchased a home during the marriage but only one spouse name is on title, can the property owner open a cook island trust that encompasses an LLC offshore, and it be protected during a divorce? Also if a lien is placed from that offshore account on the property, and filed with the local county, can this protect against a US judge? Thanks
If a house was purchased during the marriage with marital funds (funds earned during the marriage), then the house is marital property subject to being divided in equitable distribution. Offshore trusts, LLCs, etc. cannot protect it.
If a house was purchased during the marriage with a spouse’s separate property (for example, assets acquired before the date of marriage or inheritance money acquired at any time), and the house was titled in only that spouse’s name (it was not titled jointly), then the house would be that spouse’s separate property, but there could be a marital property component as well (i.e. depending on the exact facts and circumstances, the house could have a dual classification of both separate property and marital property).
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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