inheritance

sharonlhb · Jun 22, 2009

What is the name of your state (only U.S. law)? North Carolina
When my son inherits from me, and if he and his wife divorce, is she entitled to any portion of this inheritance by North Carolin law?

Ohiogal · Jun 22, 2009

sharonlhb said:
What is the name of your state (only U.S. law)? North Carolina
When my son inherits from me, and if he and his wife divorce, is she entitled to any portion of this inheritance by North Carolin law?

Maybe. I cannot foretell the future and what he might do with the inheritance that he gets.

mistoffolees · Jun 22, 2009

sharonlhb said:
What is the name of your state (only U.S. law)? North Carolina
When my son inherits from me, and if he and his wife divorce, is she entitled to any portion of this inheritance by North Carolin law?

If he doesn't want her to have it, then he needs to make sure it is never co-mingled with marital assets. If the money goes into a separate account (in his name only) and he never combines any marital funds into that account, then he should be OK, but it's worth talking with an attorney and/or financial planner if it's a significant amount of money. Divorce issues aside, there are a lot of issues involving taxes (for example) that can be very expensive if handled incorrectly.

Or, you could set it up with the money going into a trust. Properly designed, that might do the trick.

Ohiogal · Jun 22, 2009

mistoffolees said:
If he doesn't want her to have it, then he needs to make sure it is never co-mingled with marital assets. If the money goes into a separate account (in his name only) and he never combines any marital funds into that account, then he should be OK, but it's worth talking with an attorney and/or financial planner if it's a significant amount of money. Divorce issues aside, there are a lot of issues involving taxes (for example) that can be very expensive if handled incorrectly.

Or, you could set it up with the money going into a trust. Properly designed, that might do the trick.

Except if it is not money but property that he uses marital income to pay the taxes and upkeep and insurance and utilities. See where this goes? Hence, can't foretell the future. Or if he buys property with money he inherits and uses marital income to pay any mortgage or....

nextwife · Jun 22, 2009

Ohiogal said:
Except if it is not money but property that he uses marital income to pay the taxes and upkeep and insurance and utilities. See where this goes? Hence, can't foretell the future. Or if he buys property with money he inherits and uses marital income to pay any mortgage or....

She might want to talk to a trust attorney. Another option to look into is giving son a life estate, but title being vested to some entity other than son.

inheritance

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sharonlhb

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Ohiogal

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mistoffolees

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Ohiogal

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nextwife

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