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You can mitigate most of this if you're wealthy already. Basically, one of many things you can do - in any jurisdiction - is move all your assets to your priva
by vmception 5y ago
You can mitigate most of this if you're wealthy already.
Basically, one of many things you can do - in any jurisdiction - is move all your assets to your private foundation and simply not pay yourself for the duration of the marriage, including what you personally make while in the marriage if anything. Non-profits can invest indiscriminately in anything so the money can keep growing and supporting almost anything you want.
During divorce proceedings you have pretty much nothing, except the history of earnings if any which indeed can be used to compute your alimony payments. But all your accumulation and assets are not in your name, so the alimony won't be consequential compared to the horror stories we've heard of ex-spouses having to check themselves into jail when they ran out of money to pay. Back to this plan, don't forget to load up on debt as a general lifestyle choice, way before the marriage has issues. Personally you should never have positive net worth, and there should also be a line of creditors such that anyone else has to get in line or fuck off.
Afterwards you can direct your foundation to pay you a hefty salary.
The purpose isn't to screw your spouse over, its to be judgement proof from all kinds of creditors (and maintain your standing in society as a philanthropist). That will include mitigating the folly of silly unlimited liability contracts such as marriage contracts. Simply put, the clauses could be better. Love, finances, much like a lawyer I don't really care about what emotional reasons people associate with marriage and those are always available whether you do 5 minutes of estate planning or not. In my perspective, removing the downsides allows for both spouses to focus on love or whatever they want to do together. Something more commonly associated with marriage, by at least one spouse.
"I donated everything to non-profits!"
You get to win through many life events here. A state judge will not be able to undermine the federal status of the non-profit. They do have discretion over the pre-nup agreement though. So if you have the money to make a ridiculously unsexy pre-nup agreement, you have the money to make a ridiculously sexy private foundation which gets to exist in subtlety.
If you are saving up for a downpayment on a house while your life is slipping away year after year and the whole goal is to leverage up with a spouse on a mortgage before you are an ineligible bachelor/ette, then this game has no applicability to you. There is nothing attractive about that game to me, at any earning level. Discussions about the top 10% or top 5% make no difference to me, because the circumstances are the same: wage workers that barely match the cost of living wherever they earn, slow accumulation, risks (health, employment, life events) that undercut growth simply because it takes too long. Better to just have, there is no profound message applicable because the message is that simple. There are almost too many advantages to just having.