Should I consider buying a house before getting married? (California only plz)?

Question

I live in Los Angeles. Have two cars, a business, and a stable job. Make 6 figures. So quite a bit is on the line. I am not getting married anytime soon, because you'd need to find a girlfriend first, which I don't have one.

Anyway, in this state, doesn't it make sense to save everything you've got and buy a house before getting married in case the marriage doesn't work out.

I've heard so many horror stories where the husband works so hard only to have half of what he owns taken away after a divorce.

What must I do to keep the house separate from the marriage, such as cutting my own check for the mortgage, paying for all maintenance and upkeep?

Does the same solution apply to a live-in apartment complex?

Answer 1

Well, since you do have six-figures (and on your own too!) I think you can afford to pay a mortgage? Right? If that's the case then I would suggest that you just pay the house you want off on your own. When you get married someday, your wife can come and live with you, but don't let her contribute to paying off the house if you're really that worried. If your wife decides to leave (which hopefully won't happen), then the house will be completely yours.

Answer 2

There are many things you can do to protect your assets once you are married. You may put all your assets in a family trust, which you or someone else might control.

You should establish bank accounts for the trust so the trust will pay all the debts related to the property and trust. You may putt any asset you want in this trust to include cash.

Once you have established the trust you may purchase a property in California at your leisure.

You may purchase a property in California without a trust if you purchase the house prior to getting married. Even though California is a community property state things purchased prior to a marriage is not community property.

You can always use the pre-nub as many couples are using today, but they are being challenges in court today, so a trust might work better.

You should check with your attorney about any legal matters concerning you and your property and potential marriage concerns.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

I think that first bit addresses it in clear terms...

California Community Property Law:

1)  What is community property?

California law defines community property as any asset acquired or income earned by a married person while living with his or her spouse.

Separate property is defined as anything acquired by a spouse before the marriage, or during the marriage by gift, devise or bequest.

The law requires that the community estate be divided equally if there is no written agreement to the contrary.

This means that from the total fair market value of the community assets, the joint obligations of the parties are subtracted, yielding the net community estate. Unless agreed otherwise, each spouse must receive ½ of the net community estate.

2)  How is the community property to be divided?

It should be understood that the law does not require an "in kind" division of the community property. All that the law requires is that the net value of the assets received by each spouse must be equal.

Thus, it is not uncommon for one spouse to be awarded the family residence, with the other spouse receiving the family business and investment real estate. Since the total net value of the assets being received by each spouse is equal, such a division is proper.

Ordinarily, it is not difficult to determine whether a particular asset is community or separate property. However, certain types of assets can pose unique problems in this regard.

Answer 4

Buy the house first, but get a pre-nup when or if you get married saying that the house was yours before the marriage so if it is dissolved you retain the ownership of the house.

Answer 5

I'll be your GF...shoot...six figures??  some cars??

Answer 6

California is a community property state, so any of your assets once you are married are fair game in a divorce, does not matter if you acquired these assets before the marriage or not.  

The only thing you could do is move to a non-community property state (Oregon, for instance) or get a pre-nuptial agreement.  I don't know why you would consider a pre-nup "not an option" - for someone in your position, I would consider it essential.