{"id":24066,"date":"2023-06-17T19:26:10","date_gmt":"2023-06-17T23:26:10","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/my-husband-and-my-father-never-really-got-along-how-do-i-ensure-my-husband-of-26-years-never-gets-his-hands-on-my-inheritance-of-several-million-dollars\/"},"modified":"2023-06-17T19:26:11","modified_gmt":"2023-06-17T23:26:11","slug":"my-husband-and-my-father-never-really-got-along-how-do-i-ensure-my-husband-of-26-years-never-gets-his-hands-on-my-inheritance-of-several-million-dollars","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24066","title":{"rendered":"\u2018My husband and my father never really got along\u2019: How do I ensure my husband of 26 years never gets his hands on my inheritance of several million dollars?"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001017890\" role=\"document\">\n<h2><strong>Dear Quentin,<\/strong><\/h2>\n<p>I\u2019ve been married 26 years, and my husband and my father have never really gotten along well. At some point in the near future, I will inherit a significant amount of money (several million dollars). I want to spend and invest this money as I wish.\u00a0<\/p>\n<p>If anything happens to me, I want my children to inherit these funds. How do I ensure my husband never gets his hands on my inheritance? If we ever divorce, what should I do to make sure my spouse cannot access this money?<\/p>\n<div class=\"paywall\">\n<p>Loyal Daughter<\/p>\n<h2><strong>Dear Loyal,<\/strong><\/h2>\n<p>It would seem churlish not to say congratulations on your impending windfall.<\/p>\n<p>You say your husband of 26 years and your father have never really gotten along well, so I can understand that your father would like to make sure that this money remains in your name only.\u00a0The good news is that inheritance is generally not considered community property. It\u2019s all yours. You can spend and invest it as you please. Well, there <em>are<\/em> some caveats to be aware of.<\/p>\n<p>Community property is generally anything acquired during the marriage, but that does not apply to inheritance. There are exceptions. If you commingle that inheritance by depositing it in a joint savings account, that money would then be considered community property. Prenuptial and postnuptial agreements can also add more specific conditions for inheritances.<\/p>\n<p>In most states, the inheritance must also not be seen to be commingled with marital assets, and also not be used to benefit the marriage or your spouse. So consult a lawyer before you spend the money, and think twice before \u2014 say \u2014 buying a marital home for you and your husband, especially if you were to consider putting his name on the deed.\u00a0<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span>This is a cautionary tale to always make an effort to get along with your in-laws, even if they sometimes drive you crazy.<span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span>\n      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>If you were to also inherit your father\u2019s home, it\u2019s also likely to remain separate property. \u201cIn New York, inheritance of a real object, such as a house, cannot be transmuted from separate property to marital property by any effort, contribution, or residence by the non-titled spouse,\u201d according to Anthony J. LoPresti, an attorney based in Garden City, N.Y.\u00a0<\/p>\n<p>There are other rules to be aware of when inheriting property, depending on what state you live in. Among them: \u201cIn the case of a house, if the non-titled spouse worked to increase the home\u2019s value, then during a divorce, the judge may consider the home\u2019s increased value marital property, but overall, the property remains separate,\u201d LoPresti, the New York-based attorney, adds.\u00a0<\/p>\n<p>Reading between the lines, it sounds like your relationship with your husband has seen better days. Marriage, of course, can often be an epic white-water rafting trip that can last for decades through rough and calm waters, and the occasional island paradise on the way. Regardless of where you are now in your marriage, you are smart to make sure you have your own financial independence.<\/p>\n<p>This is a cautionary tale to always make an effort to get along with your in-laws, even if they sometimes drive you crazy. Your father and husband no doubt share equal responsibility for that. One final suggestion: You may or may not divorce, but one of you will most likely predecease the other. So I also urge you to make a will, outlining exactly where you would like your inheritance to go.<\/p>\n<p><em><strong>Check out\u00a0the Moneyist private Facebook<\/strong><\/em>\u00a0<em><strong>group, where we look for answers to life\u2019s thorniest money issues. Readers write in to me with all sorts of dilemmas. Post your questions, tell me what you want to know more about, or weigh in on the latest Moneyist columns.<\/strong><\/em><\/p>\n<p><strong><em>The Moneyist regrets he cannot reply to questions individually.<\/em><\/strong><\/p>\n<p><em><strong>By emailing your questions, you agree to having them published anonymously on MarketWatch.\u00a0<\/strong><\/em><strong><em>By submitting your story to Dow Jones &amp; Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties<\/em><\/strong>.<\/p>\n<p><strong>Also read:<\/strong><\/p>\n<p>My friend got us free theater tickets. When I got home, she texted me, \u2018Can you get our next meal or activity?\u2019 Am I obliged to treat her?<\/p>\n<p>\u2018She is at risk of outliving her savings\u2019: My mother, 100, was tricked into deeding her home to my brother. How can I persuade him to give her financial support?<\/p>\n<p>\u2018This will be an expensive trip\u2019: I\u2019ve been invited to a destination wedding in New Orleans. I live in L.A. Is it tacky to ask the bride if I can bring a plus-one?<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/my-husband-and-my-father-never-really-got-along-how-do-i-ensure-my-husband-of-26-years-never-gets-his-hands-on-my-inheritance-of-several-million-dollars-11657621831?mod=personal-finance\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Quentin, I\u2019ve been married 26 years, and my husband and my father have never really gotten along well. At some point in the near future, I will inherit a significant amount of money (several million dollars). I want to spend and invest this money as I wish.\u00a0 If anything happens to me, I want [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4698,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-24066","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018My husband and my father never really got along\u2019: How do I ensure my husband of 26 years never gets his hands on my inheritance of several million dollars? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Dear Quentin, I\u2019ve been married 26 years, and my husband and my father have never really gotten along well. 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