Lea Anne Fogle said:
After being married to the same man twice the second time is now on the verge of another divorce. During this last marriage I inherited money from my mothers estate and now I am concerned whether this is community property? I recently visited an attorney who told me it was not but I also saw a posting on here that says it is???? Since it is deposited in a joint saving account, do I have the right to take it out and put it in my own account?? I also have some questions on retirement and 401K accounts but will save them for another posting.
Wondering in Ohio!!!!!
My response:
Inheritance money remains separate property. In essence, it is a gift from one (the deceased) to another (the beneficiary) - - and like any gift, does not have to be shared between marital partners. "Traceability" is the key word.
There are two instances where all or part of the money becomes marital property:
1. When all or part of the money is so commingled with marital funds to the point where traceability is impossible.
2. When all or part of the money is used for the marriage; e.g., you take part of the money to buy a new family car, or a refrigerator, or television, or pay down the house mortgage. That part being used now becomes community property.
In the latter case, the beneficiary of the money (you) has made a gift of the money to the marriage, presumably for the betterment of the marriage - - unless there is a written agreement to the contrary; e.g., "I will buy a new car for the use of the family, but that car will always remain my separate property", or words to that effect, and then dated and signed by both husband and wife.
Lastly, a part of the money belongs to the other spouse in the event of death, unless there is a Will that specifically says otherwise.
This is a complex issue, with many twists and turns. It is always best to consult an attorney to determine what should be done in your particular situation.
Any posts on this Board that you have read are not "gospel". While we try to be as accurate as possible, one size does not fit all, and there are usually exceptions to every rule and situation. We give brief summaries and overviews. Very infrequently do we get the "whole story" from a writer, which if we did, would sometimes cause us to change our answers altogther.
So, see your attorney to obtain specific information that is tailor made for you.
IAAL
