????Disclaimer : The scene is a dramatisation of the movie Wolf Of Wall Street. This is purely for education & entertainment purpose.

Your marriage ???? can be the most wonderful day of your life, but it can also be the day you signed up for financial ruin.

Marriages are beautiful but fragile, every couple goes through marital disputes ???? But sometimes things aren’t meant to be, and suddenly you are stuck paying alimony to your ex-spouse.

Here’s how you can save yourself from an expensive alimony.

???????? Create an Asset Protection Trust.

When you create a Family Trust and transfer your assets to the trust, the assets no longer form part of your assets but belong to the trust with you and your family as beneficiaries. ????????

Since your spouse is not a part of your trust they are not eligible to claim a portion of these assets during a divorce. And since you do not have assets of your own, your liability in terms of alimony is significantly reduced. ⬇️

This is how high-net-worth individuals ????operate to ensure the safety of their assets through careful estate planning.

To open a trust, you’ll need to choose a
– trustee
– select beneficiaries
– identify and transfer assets to the trust
– create the trust deed
– and get it registered.

The process of opening a trust is time-consuming and complex. It is best you take appropriate legal advice before trying to open a trust.

(This reel is purely educational and should not be construed as advice)

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#financewithsharan #divorcesupport #alimony #divorcelawyer #moneytalks