Reply to Husband wants to dictate what happens with property I’m set to inherit

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[quote=Anonymous][quote=Anonymous]OP here. Thank you for all the good suggestions.

I like the idea of setting aside other money I inherit and using that to pay for the minimal upkeep. We aren’t wealthy and this is a really basic cabin; it’s just in a beautiful location and surrounded by many dear old family friends.

The cabin has been jointly owned by siblings in our family for many decades with no major issues. The problem now is that one of my siblings has struggled in life and made unfortunate choices. My husband is worried about the legal implications of owning a property with this sibling. For example, if they were to be sued by someone, could the cabin be seized to settle a lawsuit? I don’t know how this works. I probably need to speak to a lawyer about this aspect. [/quote]

Speak to a lawyer and make sure that you get insurance on the cabin that will cover any damage to the property as well as any liability from accidents on the property.  You need a lawyer to explain what the best way is to title the inherited property among the three of you to protect you all -- for example -- if your sister inherits 1/3 and wants to sell her 1/3 can she? Or what if she passes away - will the property pass automatically to the survivors?  It will depend on how the property is titled.

The lawyer also needs to tell you what you need to protect yourself from any liability -- property insurance?  personal liability umbrella?

And lawyer needs to speak to how you can keep this property out of your marital property -- if you begin to pay for upkeep with current income or joint funds, then your husband has a marital interest in the property.  If you can pay for upkeep out of funds that you can demonstrate accrued prior to marriage or from the inheritance, then you can keep this property out of your marital estate.

Your DH has legitimate concerns, but that doesn't mean he gets to dictate what happens.  [/quote]

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