Hello,
I married last year in 2017. Spouse and I live in California and were married here. Several months after we were married my father passed away and I inherited a portion of his estate along with my sister and his wife at the time. I understand under California law - inheritance is not considered "community property" even when acquired during the course of the marriage as long no "commingling" or "transmutation" occur. I have it all in seperate accounts, none is joint accounts. However, I'm getting confused on one detail...
For example, if we purchase a home together...I will most likely use a portion of my inheritance to contribute to a downpayment. Does that action now make my ENTIRE inheritance "community property" or just the portion I used for a downpayment. I'm ok with the latter since I am actively deciding to use a portion to contribute. But I don't want subject the entirety of my inheritance to that "commingling"/"transmutation".
Also, one possibly legal plot twist - she not a U.S. Citizen. She is a foreign national at the current moment. Not sure if that changes anything.
I married last year in 2017. Spouse and I live in California and were married here. Several months after we were married my father passed away and I inherited a portion of his estate along with my sister and his wife at the time. I understand under California law - inheritance is not considered "community property" even when acquired during the course of the marriage as long no "commingling" or "transmutation" occur. I have it all in seperate accounts, none is joint accounts. However, I'm getting confused on one detail...
For example, if we purchase a home together...I will most likely use a portion of my inheritance to contribute to a downpayment. Does that action now make my ENTIRE inheritance "community property" or just the portion I used for a downpayment. I'm ok with the latter since I am actively deciding to use a portion to contribute. But I don't want subject the entirety of my inheritance to that "commingling"/"transmutation".
Also, one possibly legal plot twist - she not a U.S. Citizen. She is a foreign national at the current moment. Not sure if that changes anything.