division of marital property

[BobMane]

What is the name of your state (only U.S. law)? GA

so while we were married i inherited some money. note: i still have not received the money as I signed an agreement to forestall the payment while my stepmother is gathering up the money (because assets have to be liquidated in order for the money to actually exist).


question: is the money subject to division in a divorce?

 

[ecmst12]

Generally no, inheritances are separate property unless they are comingled with marital funds.

 

[mistoffolees]

What is the name of your state (only U.S. law)? GA

so while we were married i inherited some money. note: i still have not received the money as I signed an agreement to forestall the payment while my stepmother is gathering up the money (because assets have to be liquidated in order for the money to actually exist).


question: is the money subject to division in a divorce?

No - and signing the agreement to delay payment makes it even clearer. If you do receive the money before the divorce is final, put it into an account solely in your name and do not put any marital funds into that account.

 

[BobMane]

what about if i buy a new home with my own money from my own personal account? is the home subject to anything?

 

[LdiJ]

what about if i buy a new home with my own money from my own personal account? is the home subject to anything?

No, it would still be separate property if purchased with separate funds. However, I would not recommending doing so until after your divorce is final.

 

[I'mTheFather]

No, it would still be separate property if purchased with separate funds. However, I would not recommending doing so until after your divorce is final.

I think that would depend on what he means by his own personal account. If he is referring to the account misto suggested, then I agree. If he's referring to an account that he kept in his own name during marriage, to which he deposited his pay, then that answer might not be entirely correct.

 

[LdiJ]

I think that would depend on what he means by his own personal account. If he is referring to the account misto suggested, then I agree. If he's referring to an account that he kept in his own name during marriage, to which he deposited his pay, then that answer might not be entirely correct.

I meant "separate funds" based on the legal definition of separate funds.

However, in your vein I will even take it one step further. If only the down payment comes from separate funds, but the regular mortgage payments have to come from OP's regular pay, that makes it even more complicated.

That is why I said it was best not to purchase a home until after the divorce is final.

 

[I'mTheFather]

I meant "separate funds" based on the legal definition of separate funds.

However, in your vein I will even take it one step further. If only the down payment comes from separate funds, but the regular mortgage payments have to come from OP's regular pay, that makes it even more complicated.

That is why I said it was best not to purchase a home until after the divorce is final.

Yes, I knew what you meant. I wanted to be sure OP also understood what you meant.