+ Reply to Thread
Page 2 of 5 FirstFirst 1234 ... LastLast
Results 11 to 20 of 43
  1. #11
    Join Date
    Feb 2012
    Posts
    3,521
    Thanks
    1,318
    Thanked
    1,574
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by SSecret Squirrel View Post
    Inheritances and super are treated completely differently when calculating financial separation.
    Quote Originally Posted by Sonja View Post
    definitely. nothing in common.
    What if you have already used the money to purchase a home?

  2. #12
    Join Date
    Feb 2012
    Location
    Sydney NSW
    Posts
    1,883
    Thanks
    616
    Thanked
    634
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Put it in a family trust for you and your children and get it sorted before he passes away. What would you tell your DH? Would he be shocked or upset ? I assume he is aware that this inheritance is coming your way?

  3. #13
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,005
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by Ngaiz View Post
    What if you have already used the money to purchase a home?
    Then it's part of the asset pool and the court will look at each party's contribution to those assets.

    That's why it's complicated. .

  4. The Following User Says Thank You to Sonja For This Useful Post:

    Ngaiz  (31-01-2016)

  5. #14
    Join Date
    Aug 2011
    Posts
    376
    Thanks
    4
    Thanked
    50
    Reviews
    0
    Thanks so much for the responses everyone. Unfortunately my father is no longer deemed mentally capable to make changes to his will (brain tumours have damaged his ability to think and communicate clearly), so I don't think there's anything that can be done there now. Is there anything that I can do myself to put the money into a testamentary trust when it comes? A large proportion of it unfortunately will be used to reduce our joint debt, so I suppose that then comes up for debate if we split, but there should be a balance that I could stash away for myself if that's possible. I haven't thought too hard about whether I'd tell DH about the balance. He knows there's an inheritance coming but doesn't know how much. I'm also an executor of the will so assume I'll have discretion to put the money where it suits me? A pretty morbid topic, sorry 😟

  6. #15
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,005
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by CountryGirl77 View Post
    Thanks so much for the responses everyone. Unfortunately my father is no longer deemed mentally capable to make changes to his will (brain tumours have damaged his ability to think and communicate clearly), so I don't think there's anything that can be done there now. Is there anything that I can do myself to put the money into a testamentary trust when it comes? A large proportion of it unfortunately will be used to reduce our joint debt, so I suppose that then comes up for debate if we split, but there should be a balance that I could stash away for myself if that's possible. I haven't thought too hard about whether I'd tell DH about the balance. He knows there's an inheritance coming but doesn't know how much. I'm also an executor of the will so assume I'll have discretion to put the money where it suits me? A pretty morbid topic, sorry 😟
    You can't hide the money from your husband. I really have no other advice than to see a very good family lawyer. In my experience being open and honest is the best approach.

  7. The Following 3 Users Say Thank You to Sonja For This Useful Post:

    binnielici  (31-01-2016),PomPoms  (31-01-2016),Radio  (31-01-2016)

  8. #16
    Join Date
    Jul 2015
    Posts
    6,890
    Thanks
    4,788
    Thanked
    4,225
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    I think an estate lawyer would be better in this instance. they'll be able to advise of structures and options that may be available.

    I do agree that you can't hide money from your husband. however tempting it may be.

  9. #17
    Join Date
    Jun 2005
    Location
    At the beach
    Posts
    10,495
    Thanks
    1,430
    Thanked
    9,005
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Awards:
    Busiest Member of the Week - week ended 17/10/14100 Posts in a week
    Quote Originally Posted by turquoisecoast View Post
    I think an estate lawyer would be better in this instance. they'll be able to advise of structures and options that may be available.

    I do agree that you can't hide money from your husband. however tempting it may be.
    True. When I was a family lawyer we worked closely with estate lawyers. Most family lawyers (at least the good ones) should be able to do both.

  10. The Following User Says Thank You to Sonja For This Useful Post:

    turquoisecoast  (31-01-2016)

  11. #18
    Join Date
    Feb 2012
    Location
    Sydney NSW
    Posts
    1,883
    Thanks
    616
    Thanked
    634
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Do you or someone have power of attorney you may be able to get this. Still see a lawyer asap!!!

  12. #19
    Join Date
    Oct 2015
    Posts
    1,026
    Thanks
    794
    Thanked
    783
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Quote Originally Posted by CountryGirl77 View Post
    Thanks so much for the responses everyone. Unfortunately my father is no longer deemed mentally capable to make changes to his will (brain tumours have damaged his ability to think and communicate clearly), so I don't think there's anything that can be done there now. Is there anything that I can do myself to put the money into a testamentary trust when it comes? A large proportion of it unfortunately will be used to reduce our joint debt, so I suppose that then comes up for debate if we split, but there should be a balance that I could stash away for myself if that's possible. I haven't thought too hard about whether I'd tell DH about the balance. He knows there's an inheritance coming but doesn't know how much. I'm also an executor of the will so assume I'll have discretion to put the money where it suits me? A pretty morbid topic, sorry ������
    Exdh's inheritance was used to pay down debt and purchase other assets. I can't remember the nitty grity, but we calculated the total value of the asset pool and adjusted down for the inheritance.

    As others have said you really need good legal advice on this one.

  13. #20
    Join Date
    Feb 2012
    Posts
    3,521
    Thanks
    1,318
    Thanked
    1,574
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Two things I have considered doing with my inheritance to protect my children from a money hungry MIL should anything ever happen to Dh and I was having it put into a trust in mine and the children's names for X amount of years or using it to buy investment properties in each of the children's names. Of course, I would be the only one with access to any of the trust assets. I haven't discussed it with a lawyer yet as I won't receive it for sometime. My grandmother is doing all she can to stall because my uncle is in a difficult marriage where his wife has outright said she is going to leave once that money comes through.


 

Similar Threads

  1. Is this legal?
    By DT75 in forum House & Gardens
    Replies: 111
    Last Post: 18-01-2016, 10:30
  2. Legal Advice- who from?
    By DT75 in forum Step-parents / Blended families
    Replies: 1
    Last Post: 15-10-2015, 14:48
  3. Staircase- legal requirements qld
    By SheWarrior in forum House & Gardens
    Replies: 18
    Last Post: 03-09-2015, 15:10

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
sales & new stuffsee all
Bub Hub Sales Listing
HAVING A SALE? Let parents know about it with a Bub Hub Sales listing. Listings are featured on our well trafficked Sales Page + selected randomly to appear on EVERY page
featured supporter
Heinz Baby Basics
Our BPA Free range offers you a choice for every stage of your baby’s feeding development. You’ll love our brilliant colours, inspired designs and innovative features. Heinz Baby Basics caters for your baby’s needs!
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!