Reply to Protecting earned income and assets in a marriage

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Thanks, all. OP back.  I don't want to live in preparation for a separation, but it is a real possibility because of the money issues in our marriage.  I was hoping there was a legal way to protect earned income and assets.  I understand the concept of marital property, but I was looking for a creative way to preserve money for our kids.  I could give some to my family, but I don't think they'd be willing to involve themselves.  And they don't need any money from me.  Although I guess I could gift them money, then they could gift it to my kids in a UTMA or even to me in a trust?  If we get divorced, half of "my" savings will effectively go to my in-laws and get diverted from my kids.[/quote]

Largely increase your contributions to the kids 529 accounts.  Fully fund them for both undergrad and grad school.  These are about the only accounts that won't be touched in a divorce.[/quote]

Most people have 529 accounts that are in the parent's name with the children as beneficiaries, these would be considered marital assets in a divorce.  Questionable whether a minor is even allowed to own a 529 account.[/quote]

Yes, 529 accounts are joint property of both spouses subject to division just like IRA. In most states. OP can only "spend" their earnings on something that is not held under the spouse name[/quote]

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