Reply to Best use for 1.6 million inheritance

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Inheritance is a separate property of the spouse who inherited it. Don’t invest in anything joint - you are gifting your spouse 50%. Is it what you want ?

I would buy a separate rental property or a brokerage account  and put it into a irrevocable solid divorce proof trust with mine and kids names on it. Way too many divorces when kids are off to college in mid 50s…. [/quote]

As a 23-year spouse to someone who received a many millions dollar trust fund and has been very careful not to co-mingle, I assure you, this kind of behavior is one way to ensure that empty nest divorce. My spouse will live a very lonely life because of this kind of attitude. You sound as hateful, paranoid, and insecure as my spouse. Enjoy your money, alone. [/quote]

Are you struggling without the inheritance?   I ask because I think DH will receive an inheritance and I will not, and if he's careful not to commingle I wouldn't be particularly upset because it goes to our kids eventually.  I might even be able to loosen the savings strings a bit and spend more on day-to-day with that safety net in the background.

If you're living on rice and beans while your spouse is living it up on separate funds I could see that being very upsetting.[/quote]

Exactly: there are trust funds that are structured in a way that the recipient of the income can use this income on his/her daily needs. It's up to a spouse whether to use inheritance on family needs. But the underlying asset remains separate property which is protected in divorce/remains with ex spouse who received it. This is done to protect children interests in the first place, so that inheritances are not diluted in subsequent remarriages/go to  steps and other "no blood line" relatives down the line.

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That's what I find putrid in long-term, committed marriages. "Up to spouse" whether they want to share their good fortune with their loving spouse who contribued their own income for decades while raising their family. How is it even a choice? If you love and trust your spouse, it goes into the shared accounts, period. If you don't, you act like a miser. Those who are okay with this were raised the wrong way. And for the record, I come from a wealthy family who is very familiar with all these contrivances. But we were raised to respect, trust, and love one another. [/quote]

If you give your husband 50% of your inheritance through commingling, and tomorrow he "upgrades" you for a secretary, and your 50% inheritance goes to her ,would you be happy? Anything might happen, particular in LT marriage.

Income from trusts can be commingled, so that the whole family could have one lifestyle, but would you re-register your parents' inherited house to your and your spouse names??? Really???

In Ops' situation, she is much lower paid vs her husband, and this financial trust from her parents would ensure she's on equal terms with her spouse.

Maybe for someone who inherits hundreds of million it doesn't matter to commingle or not, but if you are making 70K/year and inherit a house worth $2mm, would it be wise to commingle it with a spouse who makes 200K/year? Or make it a rental property under your kids' names, and contribute this extra income into family budget? It's not like that higher paying spouse married you for inheritance![/quote]

Withhold your good fortune from your spouse of decades and sure, you're inviting them to go do better. I hate my spouse for his refusal to share his good fortune, while every penny of my income is spent on our family expenses. We don't have to worry about college, and I am thankful for that, but outside of that, he lives with the confidence that he can live however he wants with no worries about retirement, while I wonder everyday how I will make ends meet if he decides to up and leave. I hate him for it and am trapped. All he had to do was share his luck to be born to wealthy parents with the woman he chose to marry and have children with, but because of this horrible trend that was devised by wealth managers, here we are. I will leave him anyway, but will sue for all the money I lost while married to him and raising his children. I'll still  have to work until I'm 80, but it will be better than growing old with this cheap, selfish, narcisstic jerk. Those of you who put your money ahead of your spouse, trust me, your spouses feel the same. If they don't, they're doormats--just like I have been. [/quote]

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