I own appx 100 acres of lakeside property solely. Getting married, want to open a butcher shop with a small part of the roadside property for future husband to run and co own possibly. How do I keep all other property and future developments besides the store for him separate in my verbage?
1 Answer from Attorneys
You can make a prenuptial agreement. An attorney can draft a document for you that will maintain that property (and associated businesses) for you in your name and it will remain in your name despite your marriage. The statute in NM that addresses Prenuptial Agreements is N.M. Stat. Ann. §40-3A-1 to 40-3A-10 NMSA 1978 and may be cited as the "Uniform Premarital Agreement Act". In its simplest terms a Premarital or Prenuptial Agreement is a contract that allows married people (you enter into this agreement prior to marriage) to maintain separate property despite the fact that they are married or are about to be married. Understand though, you have to continue to maintain the separateness of the property. It's not hard to do but any attorney will tell you the few and important steps you should follow if you want to maintain the separateness of the property.
There are some of those businesses online that will make one of these type of agreements for under $100.00 - but, in my opinion, you get a document that is pretty generic and not exactly addressing the specifics of what you are doing in your own life. You can get lawyer referrals from the State Bar of NM or from Law Guru for a NM attorney who can draft a prenuptial agreement for you.
Hope this helps.