Can I ring fence my inheritance?

[PersephoneParlormaid]

Marriage has been awful for years, should have gone by now but stayed for the kids etc. I’m about to inherit, can I ring fence it?

I think it’ll be a marital asset.

Find a good accountant. The type that rich people use.

Yes and no. It depends on the situation. If there are more than sufficient assets to house you both then it won't come into it, if however it is 'needed' it will be taken into account by perhaps giving you less of other assets

You want a financial advisor and or solicitor not an accountant.

@PersephoneParlormaid not really sure. what about some kind of trust? also depends what country you are in/

In Scotland it’s not a martial asset

Yes if you are careful.
Def do not "mix it" ie pay off mortgage on jointly owned house and take professional advice

Id prob just start divorce now though.. you've got the financial means to split.

Talk to a Lawyer and get started on the divorce before you inherit.

If DH was the one about to inherit would you be supportive of him hiding it from you if he was planning to end the marriage?

In England I think you need to not mix it eg don’t use it to pay off some of the mortgage or other joint debt. Put it in an account in just your name.

There's always one 🙄

About to inherit- do you mean you have an elderly unwell relative? If you file for divorce immediately you might complete the process before the person dies.

Who are you inheriting from?

if you have a sibling that can be trusted can your inheritance go to them until divorce is finalised then they transfer it to you ?

Inheritance is your money. Have a separate account for it .

He’s already had his inheritance and I’m happy not to touch it. Plus, I’m not hiding anything

If you are about to inherit could you get the person that you are inheriting from to put in in a trust for you?

If not you need to talk to a solicitor about how to make sure that it remains yours. As PP have said it is possible but you need to make sure that it is bomb proof.

@PersephoneParlormaid If your long term plan is to divorce then I do think you need to start to consider if it is feasible now. It sounds like you are staying for the children.

I agree with pp talk to a Solicitor about your options. Given your DH has had his inheritance a legal agreement that neither of you will claim each others inheritance might be an option. As pp say keeping your inheritance separate.

It’s basically get your ducks in a row time.

To state the obvious you need proper legal advice. The advice I received was that if the assets are held entirely separately and never within a joint account then it may be possible to not have them considered as marital assets. This does depend though on what the rests of the assets look like and who has done what in the marriage. So for example, if one partner has been at home and has "sacrificed" a career then they may get more.

You can't completely ring fence it. If you keep it separate from marital finances, the courts will try to preserve it for you but they will dip into it if that is the only way to achieve a fair settlement. You need to see a solicitor and get proper legal advice.

Assuming they’re not dead…

@PersephoneParlormaid what did DH do with his inheritance?

He told me that it was none of my business and invested it.

Keep it in a separate account and never mingle it with matrimonial assets (e.g., do not use it to pay towards your mortgage).
On divorce, inheritance is usually ringfenced provided there are enough matrimonial assets to meet need. If, for example, the inheritance is the only asset, or there is not enough capital for both of you to be rehoused, then it could be taken into account.

What country are you in?

If England or Wales, it’s very likely going to be considered a marital asset.

You need swift legal advice.

Surely the most sensible way forward would be to advise him you will not go after his inheritance if he doesn’t go after yours. Presuming the difference between the two isn’t massive?