mixing money

[drd]

I am considering a divorce and I recently received an inheritance (stocks only). Due to my ignorance, I deposited two dividend checks into our joint checking account to pay off a portion of my debt on a credit card. Does this mean if we divorce my spouse is entitled to half of my inheritance?? I live in Wisconsin.

Thank you in advance,

 

[I AM ALWAYS LIABLE]

I am considering a divorce and I recently received an inheritance (stocks only). Due to my ignorance, I deposited two dividend checks into our joint checking account to pay off a portion of my debt on a credit card. Does this mean if we divorce my spouse is entitled to half of my inheritance?? I live in Wisconsin.

Thank you in advance,

My response:

No. All because you deposited "some" dividend checks into a joint account, doesn't mean he's entitled to half of the rest of the inheritance. All you did was to donate (or gift) to the marrital estate the amount that you had deposited into the joint account. That doesn't mean that you have an intention of gifting the entire balance of the inheritance. The rest of the inheritance is separate property.

Good luck to you.

IAAL

 

[drd]

Thank you for the information. Are there any other situations I need to be aware of regarding the inheritance & a potential divorce? My spouse is drooling over the money & I am not quite ready (emotionally) to file.

Thanks again

 

[I AM ALWAYS LIABLE]

My response:

Always keep the money in a separate account. And, stop spending the money on things for the marriage.

Also, be aware, that the "Income" that the inheritance generates is, in fact, subject to division.

So, if it's lots of money, the only way to stop such division is either by "Legal Separation" or "Dissolution" of the marriage.

In other words, you're going to have to make a decision real soon.

Good luck to you.

IAAL