Would marry a girl for money?

[Divorced w 3]

A few thoughts since some of y'all don't seem to realize:

There will be no benefit to speak of to the husband in the event of divorce. Why? Wealthy families protect the wealth. This girl benefits from the wealth of the family but owns nothing. Therefore the husband cannot take from her.

The father or the family will own the couple's home in a trust or partnership structure, which neither the wife or husband will own, for example.

My best girlfriend from college and also my maid of honor for my recent wedding both fall into the above category (from wealthy families where the martital home is NOT owned by the couple.) My sister was married to a man whose family trust owned their first marital home.

Families protect their children by owning the assets. That way an interloper cannot swoop in and take advantage of the children.

I got paid out pretty nicely - he had real risk and that’s why they tried to bleed me out to force a bad deal

 

[BeExcellent]

I got paid out pretty nicely - he had real risk and that’s why they tried to bleed me out to force a bad deal

That's on your father-in-law. Not your ex wife, which illustrates my point rather well. I didn't say every family is bright. The ones who build generational weath are very bright. They have to be. Lots of opportunists out there.

 

[Manure Spherian]

So it's a different type of love?

Not the hot, passionate "makes you crazy with all the highs and lows, ups and downs" love...

but rather a more stable peaceful love which can become somewhat mundane at times, but it feels safe and secure.

And she has money!!

@New_Journey is that what you mean?

Yes.

 

[Westminster]

That's on your father-in-law. Not your ex wife, which illustrates my point rather well. I didn't say every family is bright. The ones who build generational weath are very bright. They have to be. Lots of opportunists out there.

Oh, how I wish I'd had somebody like you to guide me ten years ago. It would have saved me a lot of trouble and a lot of money.

 

[Divorced w 3]

That's on your father-in-law. Not your ex wife, which illustrates my point rather well. I didn't say every family is bright. The ones who build generational weath are very bright. They have to be. Lots of opportunists out there.

It’s a great academic discussion that estate planners and wealth management house love to have and write about on how to plan for the protection and conservation of an estate, but very rarely does it happen in practice which is why they’re so interested in writing about it. It’s not just the legal structure but the conversations and commitment of the family, and it’s very hard to do. The wealth creator often has trouble with teaching the next generation, and also often struggles with either excessive gifting or maybe provides very little. Family’s at the end of the day, are still families with dynamics. It’s very difficult to really do what is so often fantasized about in the literature.

 

[BeExcellent]

It’s a great academic discussion that estate planners and wealth management house love to have and write about on how to plan for the protection and conservation of an estate, but very rarely does it happen in practice which is why they’re so interested in writing about it. It’s not just the legal structure but the conversations and commitment of the family, and it’s very hard to do. The wealth creator often has trouble with teaching the next generation, and also often struggles with either excessive gifting or maybe provides very little. Family’s at the end of the day, are still families with dynamics. It’s very difficult to really do what is so often fantasized about in the literature.

I agree. It comes down to transparency and relinquishing of control. Estate planners/wealth managers cannot drive that part of the process.

I've never understood that. Often the controlling family member(s) are all about opacity and control. I teach my kids about wealth creation, financial responsibility and asset protection all the time. They all know about my will, the trust and can call me anytime for advice about financial decisions.

But I also realize many familes have dynamics where members compete against and turn on one another.

 

[Divorced w 3]

I agree. It comes down to transparency and relinquishing of control. Estate planners/wealth managers cannot drive that part of the process.

I've never understood that. Often the controlling family member(s) are all about opacity and control. I teach my kids about wealth creation, financial responsibility and asset protection all the time. They all know about my will, the trust and can call me anytime for advice about financial decisions.

But I also realize many familes have dynamics where members compete against and turn on one another.

It depends where the family is in the process. While highly dramatic, the show Succession is not far off on the thinking of the wealth creator. You build an empire often from the ground up, bare handed; you provide until your dying days for your family (and while the creator is alive that family and the offspring may be 30 plus members); and at some point of the process, the guy from Goldman shows up with his team and a PowerPoint and suggests you should hand all operations over to someone else and cede everything to an irrevocable trust to save millions in taxes. Think about how you would feel in that position. On the other hand, families that do understand that and have generations living off of the family empire; Hiltons, Gettys, to name a couple that are well known, know how to do it and have the account build in perpetuity.