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  1. #11
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    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
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    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?

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    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. .

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    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 😟

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    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.

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    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.

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    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.

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  11. #18
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    Do you or someone have power of attorney you may be able to get this. Still see a lawyer asap!!!

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    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.

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    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.


 

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