Q: DO I HAVE TO GIVE MY WIFE HALF OF MY INHERITED MONEY?
I HAVE INHERITED MONEY FROM MY MOTHER AND I HAVE THE ORIGINAL LETTER. MONEY IS IN AN IRA ACCOUNT AT FIDELITY. I HAVE SOLD STOCKS AND BOUGHT BETTER STOCKS. BUT ALL THE MONEY IS STILL THERE. MY WIFE'S NAME IS ON THE ACCOUNT BUT SHE WAS NEVER GIVEN THE PASSWORD. I CAN PROVE THE MONEY WAS GIVEN TO ME AND I OPENED THE ACCOUNT AND MANAGE THE ACCOUNT. PLUS I NEVER USED ANY OF THE MONEY. MY WIFE WANTS HALF OF THE MONEY IN THE DIVORCE.
A: If her name is on the account, then it makes it more problematic for you. You'll have to prove it is all inherited and trace all the funds. Use the Find a Lawyer tab to retain a local divorce attorney to review all the facts and advise you.
A: The money is your separate money unless Wife proves you intended to gift it to the marriage. If you put her name on because you said this is our money, that would be a gift If you put her name on so she could easily inherit if you died during the marriage, that is not a gift. You do need to discuss this with a local attorney to prepare your case.
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