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  1. #1

    Default Asset Disclosure to the Attorney

    My question involves marriage law for the State of: California

    Hi there,


    We are expecting to get married this year and both of us agreed to sign a prenup. We’ve done some search and are made aware that we should disclose the assets we currently have prior to the marriage.

    While that’s totally fine to us to disclose the assets to the future spouse, we feel a bit uncomfortable if the attorney that assists us will also need to see the full disclosure of our assets in order to assist us with the prenuptial agreement?

    Question:
    We definitely trust the attorneys in general but since this is our first time working with attorneys and our assets are such a personal, sensitive information, we are wondering if it is necessary to disclose all our assets to the attoery as well? Or can we just show the disclosure with the future spouse? How does that work?

  2. #2
    Join Date
    Oct 2016
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    3,305

    Default Re: Asset Disclosure to the Attorney

    Your information is safer with an attorney than it is with your future spouse. If the attorney wrongfully uses the information you have several avenues to follow. If your spouse uses it wrongfully you have few.

  3. #3
    Join Date
    Oct 2006
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    15,674

    Default Re: Asset Disclosure to the Attorney

    Quote Quoting polarbear558
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    My question involves marriage law for the State of: California

    Hi there,


    We are expecting to get married this year and both of us agreed to sign a prenup. We’ve done some search and are made aware that we should disclose the assets we currently have prior to the marriage.

    While that’s totally fine to us to disclose the assets to the future spouse, we feel a bit uncomfortable if the attorney that assists us will also need to see the full disclosure of our assets in order to assist us with the prenuptial agreement?

    Question:
    We definitely trust the attorneys in general but since this is our first time working with attorneys and our assets are such a personal, sensitive information, we are wondering if it is necessary to disclose all our assets to the attoery as well? Or can we just show the disclosure with the future spouse? How does that work?
    A prenup cannot be properly done without a full disclosure of assets. The disclosure needs to be part of the document that is signed.

  4. #4
    Join Date
    Jul 2018
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    1,736

    Default Re: Asset Disclosure to the Attorney

    Quote Quoting polarbear558
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    While that’s totally fine to us to disclose the assets to the future spouse, we feel a bit uncomfortable if the attorney that assists us will also need to see the full disclosure of our assets in order to assist us with the prenuptial agreement?
    Despite your use of a question mark, this sentence is not a question. If you intended a question, it's not clear what you intended to ask.


    Quote Quoting polarbear558
    View Post
    our assets are such a personal, sensitive information
    Why? Do you own stock in blood diamond mines, porn companies or other things that some folks might find objectionable?


    Quote Quoting polarbear558
    View Post
    we are wondering if it is necessary to disclose all our assets to the attoery as well? Or can we just show the disclosure with the future spouse? How does that work?
    I'm honestly at a loss to understand your concern, but you're under no obligation to disclose anything to your or your intended spouse's attorney. Prenups sometimes contain lists of assets, but that's not always the case, and it's not at all uncommon for a prenup to say something like, "H and W have disclosed their assets to each other, and each acknowledges that the other has made a full disclosure." The biggest problem with what you're talking about doing is that if, at some later time, your spouse-to-be claims you failed to disclose something, you'll have no independent way to prove that you did make a full disclosure.

    Quote Quoting PayrolGuy
    View Post
    Your information is safer with an attorney than it is with your future spouse. If the attorney wrongfully uses the information you have several avenues to follow. If your spouse uses it wrongfully you have few.
    Concur.

  5. #5

    Default Re: Asset Disclosure to the Attorney

    My guess is that these assets were acquired through inheritance. In other words, not earned. Why so? Because if you had the wherewithal to earn them, one would expect that you would have the good sense not to even contemplate such stupidity!

    The idea is about as dumb as having your lawyer draw your will, but withholding the true names of the beneficiaries in fear that the lawyer might sell the information to spammers.

    Do you have visions of others plotting against you?

  6. #6

    Default Re: Asset Disclosure to the Attorney

    Thanks everyone for the replies. I see this question came across dumb to many. But to give some more context, both of us haven’t worked with any attorney in the past before. Some episodes of lawyers shows is the closest experience we have about how it feels working with a lawyer.

    To us while logically we do know that the aottorneys are professionals but emotionally they are still closer to “strangers“. That’s why the idea of disclosing all our asset information to the attorney such as bank account numbers, real estates still feel a little bit uncomfortable. I hope this is not impossible to understand.


    Bear with me and .. if I may, could I ask how do you folks make decisions whether to hire a prenuptial attorney - the person who’s gonna see all your detailed assets info? Im’ only just looking up on Google and schedule an initial consultation. But I have no data point to know what to look out for. Any thoughts/tips on what to look out for before hiring the prenup attorney?

    Really appreciate any input.

  7. #7
    Join Date
    Nov 2013
    Posts
    6,466

    Default Re: Asset Disclosure to the Attorney

    I'm sure you know that CA is a community property state. That means that all property or assets acquired during the marriage is owned equally by both spouses.

    But what you come into the marriage with and kept separate from the marriage is not included should you get divorced. However, you would have to be carful not to comingle assets or property. For example: Say you have a personal brokerage account that has to pay capital gains tax at the end of the year and you use marital assets to pay the tax. You just brought that account into the marriage and it can get muddy. But if you pay those taxes from your out-of-marriage assets you didn't. A prenup will not change that unless it is written to include all manner of contingencies.

    You do realize that a prenup (PNA) is written in contemplation of divorce. Not a very good way to start a marriage IMO.

  8. #8
    Join Date
    Oct 2016
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    Default Re: Asset Disclosure to the Attorney

    Quote Quoting polarbear558
    View Post
    Thanks everyone for the replies. I see this question came across dumb to many. But to give some more context, both of us haven’t worked with any attorney in the past before. Some episodes of lawyers shows is the closest experience we have about how it feels working with a lawyer.

    To us while logically we do know that the aottorneys are professionals but emotionally they are still closer to “strangers“. That’s why the idea of disclosing all our asset information to the attorney such as bank account numbers, real estates still feel a little bit uncomfortable. I hope this is not impossible to understand.


    Bear with me and .. if I may, could I ask how do you folks make decisions whether to hire a prenuptial attorney - the person who’s gonna see all your detailed assets info? Im’ only just looking up on Google and schedule an initial consultation. But I have no data point to know what to look out for. Any thoughts/tips on what to look out for before hiring the prenup attorney?

    Really appreciate any input.
    First, TV lawyers are fiction. What you see there has little relationship with reality. Applying what you have seen on TV about lawyers is little different that applying what you have seen on porn to your sex life.

    This link takes you to the Califonia BAR association http://www.calbar.ca.gov/Public/Free...e-Right-Lawyer they have a guide on finding a lawyer (or in your case two lawyers, you each will need one) plus a lot of other info that will help you.




    Quote Quoting budwad
    View Post

    You do realize that a prenup (PNA) is written in contemplation of divorce. Not a very good way to start a marriage IMO.
    Really bad advice from both a legal and marital standpoint.

  9. #9
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    Nov 2013
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    6,466

    Default Re: Asset Disclosure to the Attorney

    Quote Quoting PayrolGuy
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    Really bad advice from both a legal and marital standpoint.
    I don't think so. I guess you have to ask yourself what is marriage all about. If it's a business relationship or is it about commitment and family.

    A prenup anticipates the breakup of the marriage. Why get married in the first place?

  10. #10
    Join Date
    Jun 2010
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    643

    Default Re: Asset Disclosure to the Attorney

    Quote Quoting polarbear558
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    To us while logically we do know that the aottorneys are professionals but emotionally they are still closer to “strangers“.
    So are doctors. Do you hesitate to disclose information to them?

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