Effect of new wife's existing loan guarantee

My wife signed as a business loan guarantor for her family business before we were married. I bring assets into the marriage. Are those assets potentially “up for grabs” if the loan defaults a) if they stay in my name, and b) if we put any in joint names?

I suspect I should be able to find this on the web, but my Googling didn’t come up with anything.

If anyone answers the question here, that’s an awfully good reason not to trust their answer. Anyone who would know enough to advise you usefully would also know enough not to do it on a message board without a full knowledge of all operative facts. You should talk to a lawyer.

I’ll also note that your answer may vary greatly depending on state law.


I do have an appointment with a financial/legal expert at the end of next month. I’m just trying to do some homework in advance.

The best homework you can do is be fully conversant with all the factual details so when you talk to the guy you can answer any questins he has that may bear on the result.


I agree with both of Cliffy’s posts. To that end, you’ll need a copy of the guaranty. (Sorry if this seems obvious, but you’d be surprised how many times I’m asked to opine on a legal document that the client hasn’t given me.)

And when you say “legal expert”, you mean lawyer, right? Guaranty law and the laws governing how a spouse keep his property secure from the claims of the other spouse’s creditors can both be tricky, and nonlawyer (even one in a banking or financial field) is unlikely to know all the nuances.

It is a company that employers financial advisors, lawyers, CPAs & whatever is needed, whether from internal or external sources. My initial appointment is not with a lawyer because this is only one aspect of a myriad of business & financial related matters (trusts, estate, taxes, liability etc.). I am meeting the guy in charge, and he will bring in other experts as required. I am familiar with business aspects (I run a small company, but one with no loans to guarantee), but am looking for more information on the one specific matter I mentioned in my OP.