How to protect your money when marrying someone who's in legal or financial trouble
- If you are considering marrying someone who is in legal or financial trouble, there is a lot of legal planning you should do before walking down the aisle.
- Below are the best types of protections spouses can take when they marry someone who's in legal or financial trouble.
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Elizabeth Holmes, the founder of the disgraced blood-testing startup Theranos, reportedly married her fiancé Billy Evans in a secret wedding ceremony recently.
Not much is known about the relationship between Holmes and Evans, a 27-year-old heir to the California hospitality group Evans Hotels.
But speculation immediately arose as to why they got married, including a theory from Vanity Fair's Nick Bilton that Holmes needed access to Evans' money to pay her legal bills. The entrepreneur is facing numerous federal charges of fraud related to Theranos, which was once valued at $9 billion before reports revealed it was based on faulty science. Following the reports, Holmes' net worth plummeted from $4.5 billion to zero, according to Forbes.
Could marriage be the answer to her legal and financial woes? That depends on what kind of legal planning - if any - went on before the pair walked down the aisle.
We asked experts what kind of protections spouses can take when they marry someone who's in legal or financial trouble.
Here's their best advice for people in that situation.