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Married - ring fence inheritance ?
17

KangarooKenny · 25/06/2022 07:18

As a married person can I ring fence any inheritance I receive ?

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Ifailed · 25/06/2022 07:28

You could try placing it in a trust. Speak to a lawyer.

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MissHavershamReturns · 25/06/2022 07:29

Or ask a lawyer about a post nuptial agreement. You definitely need legal advice here op.

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KosherDill · 25/06/2022 07:39

I thought inheritances were not marital assets? See a lawyer.

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RandomMess · 25/06/2022 07:49

Inheritances are not automatically marital assets but if you use them for family benefit then they are - such as paying off the mortgage. So yes get in touch with a specialist solicitor.

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KangarooKenny · 25/06/2022 08:34

Thanks. I’m not getting the inheritance yet, hopefully there’s many more years before it happens, and who knows what will happen with care fees.
Im just happy to know that there is something I can do when the time comes.

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couldishouldigoforit · 25/06/2022 08:42

It's my understanding that they are a marital asset

I have requested that any inheritance from my parents be placed In trust or given directly to our children

My parents didn't work so hard to risk my DH benefitting after their death and in the event of a divorce (my parents have probably 100x the assets PIL)

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prh47bridge · 25/06/2022 08:44

If an inheritance is kept separately from marital assets, the courts will try to preserve it for you. However, they will dip into it if that is the only way to achieve a fair settlement.

The courts have the power to set aside moves intended to prevent or reduce financial relief.

A properly executed post-nuptial agreement can help. The courts will normally follow such agreements but can step outside them if the agreement is clearly unfair in the circumstances at the time of divorce.

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helpfulperson · 25/06/2022 08:45

It depends where you live. Rules in Scotland and England are different.

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KangarooKenny · 25/06/2022 08:46

England.

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couldishouldigoforit · 25/06/2022 14:26

Reality is it's nigh on impossible to keep it separate - it's usually used for mortgage payments etc. even if you buy a holiday home your husband would be classed as benefiting from it and therefore would be entitled to something from it

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KangarooKenny · 25/06/2022 17:56

I’d be looking at putting it into an account or similar, our mortgage is paid off.

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JennyMule · 01/07/2022 20:23

An inheritance received during marriage will be a marital asset. The testator may want to consider creating a discretionary trust, then the trustees (eg their adult offspring can control the timing and distribution to best effect)

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Soontobe60 · 01/07/2022 20:30

Very odd.
When my MIL died, my DH shared his inheritance with me 50/50. My own mother died this year. I will be sharing my inheritance with him 50/50. If someone doesn’t want to do this in case they end up getting divorced, why are they together in the first place?

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MissHavershamReturns · 02/07/2022 13:49

@Soontobe60 I think this is somewhat dangerous advice given the divorce rate.

We all hope to be together forever, but as so many of us won’t be a little advance planning is nothing but wise.

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MissHavershamReturns · 02/07/2022 13:49

Speak to a solicitor op

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KangarooKenny · 02/07/2022 15:50

MissHavershamReturns · 02/07/2022 13:49

Speak to a solicitor op

Thank you

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Soontobe60 · 03/07/2022 22:50

MissHavershamReturns · 02/07/2022 13:49

@Soontobe60 I think this is somewhat dangerous advice given the divorce rate.

We all hope to be together forever, but as so many of us won’t be a little advance planning is nothing but wise.

It wasn’t advice, it was stating how we have managed our inheritance.
if people are going to be cynical then they’re probably wise not to get married in the first place. I’m well aware of the divorce rate - I myself have been divorced!

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