Q: My question is regarding inheritance from parents. My wife has just received the final disbursement of her inheritance.
She is under the impression that inheritances are not part of joint custody. The issue that I have is that when I received my inheritance back in 1996, $50k of the money of which I had borrowed from the estate was given to her to invest in a business. At that time my youngest daughter was born and my wife had just lost her job. She expressed being able to perhaps own a business where she could be more flexible and set her own hours so she could be home more. My entire inheritance was spent on family items and things of need. I had place no money away as she had lost her income from her employment. The thing that upsets me so much is that she is a private accountant by trade. It was not even eleven months when one morning she informed me that she was not opening the store. She went on to inform me that she was behind in the rent for three months, her vendors all had her on cash and she could not operate like this. The upsetting factor is that she gave me not advance notice.
A: Inheritances are sole and separate property unless, the funds are commingled. In essence, despite her dishonesty, you gave her a gift. Sorry you were a victim in this. Good luck.
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