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][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.

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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]

Have you considered a pre-nump?

From google -- In a divorce, pre-marital assets, like bank accounts or investments owned before marriage, generally remain the sole property of the individual who owned them, as long as they were kept separate. However, if these assets increase in value during the marriage, that increase might be considered marital property and subject to division. To protect pre-marital assets, it's crucial to keep them separate and avoid commingling them with marital funds. [/quote]

Way past that..nor am I considering divorce. This is just for my knowledge, and potentially what I could advice my kids. Also, a pre-nup has that "I don't trust you vibe" which I'd personally avoid, but of course if that's the only option..
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