QUESTION
I am married Male for 18 yrs. in California I have learned I will get an Inheritance
Asked on Oct 29th, 2014 on Family Law - California
More details to this question:
I am married Male for 18 yrs. in California with 2 kid's age; 14 & 17; I have learned I will get an Inheritance of $100K in about 12-24 months; Recently my wife decided this was the end of our love lives but we live in the same large home in separate bedrooms; she wants to move away - but can't - do to financial reasons; After some thought I now realize, I don't want to split this Inheritance of $100K 50/50 if my wife is the one whom wants to end the marriage. Question; if I get a legal separation or a Divorce Now (before I obtain the money) will I avoid a 50/50 split of community property? Or will it matter? If the check is made to my name only - is it legally 100% my funds to disperse to my children as I see fit: Please reply Thank you for your help
1 ANSWER
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The good news is that inheritance is considered your separate property regardless of whether it is received now, or later. This means it belongs to you, and will not be subject to the community property equal division rules that would otherwise apply. Just be sure to deposit it into a separate investment account and not to commingle it with your marital funds. However, the fact that this asset isn't divisible as community property doesn't mean that it isn't relevant to other issues, such as attorney's fees and spousal support. You might consider meeting with a family law attorney when you are ready to move forward so that you can go over these concerns in greater detail.
Best of luck to you.
Answered on Oct 30th, 2014 at 2:55 PM