Reply to Inheritance--where to put the money while deciding what to do with it?

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[quote=Anonymous][quote=Anonymous]I am curious as to why everyone says to put it in a your-name-only account? I can see doing this for the short term, but for the long term it seems unusual for married couples who typically share accounts.

Btw, if we came upon an inheritance, my Dh would also want to invest in real estate (it's his profession)[/quote]

Because if you have kids and you drop dead tomorrow, that money is your DH's and if he remarries, that means he and his new spouse can spend it on whatever they want and your bio children could be left with nothing in terms of an inheritance from you.

I've always been told that inherited money should be kept separate for that reason (if there are children involved).  Sure you can spend it on joint items but you keep it separate until you buy said item for the reason I outlined above.

DH and I both will inherit decent sums of money from our parents and I am absolutely all for us both keeping those amounts separate or, at the very least, only transferring some of the money into a joint account so that the rest is protected, again, for the reasons I outlined above.[/quote]

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