My question involves estate planning in the state of: Massachusetts.
I have been married to a woman for about 1 year. She has inheritance which is in a personal trust and which was set up before we got married. She also has a primary residence (in which we live in) under her name and which is not in the trust. Recently she acquired another property which she placed in her trust.
At the moment I am looking to purchase some investment property from my personal assets from before the marriage.
(1) should I assume that in the case of a divorce in the future this property may be considered joint even though it would only have my name on it?
(2) should/can I create a living trust to protect myself and my personal assets? Should it be an irrevocable trust?
(3) any other things I should be aware of?
As a note, we did not get a prenup; we contemplated one (it actually stipulated that individual assets purchased in individual names after the marriage would stay our own property) but never did it.