Reply to If you are keeping an inheritance separate from marital funds, how do you handle inherited IRA

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I inherited a lot of money in IRAs but it was before the new law so I only take RMDs every year. Additionally, I have a trust I have to take additional required distributions from annually. Here is what I/we do:

- all distributions are kept separate and go into my own accounts in my own name

- I pay the portion of the taxes attributable to these separate distributions from my separate property.

[/quote]

Have you verified this approach with a lawyer to make sure your spouse can't come after you for those accounts at a later date? Seems to me that you will need to keep detailed accounting and records of all transactions related to those accounts..[/quote]

I am an attorney. [/quote]

Thanks for the response.. So, is this something your spouse has to agree with or is it automatic (in Virginia)?  Say I have pre-marriage accounts (Brokerage, Roth IRA and 401K). Can I "freeze" them (at least the Brokerage and Roth) as of the day/week before the wedding and create new accounts for future money and they will automatically be considered "out of bounds"? How about the 401K? Just an account statement?[/quote]

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