Protecting Inheritance From Spouse

Summary

In Georgia, inheritance is generally considered separate property unless it is commingled with marital assets. To protect your inheritance, keep it in a separate account and avoid using it for joint expenses. If you transfer the inheritance to your adult child, it becomes their asset, but be aware of potential tax implications. Opening a savings account solely in your name can help maintain the inheritance as separate property. Consider consulting a local attorney for detailed guidance on estate planning and protecting your assets.

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After we sell the estate if we divorced is half of it his?
In Georgia, inheritance is typically considered separate property, even after marriage, unless it is commingled with marital assets. However, to protect your share, it would be wise to keep the inheritance funds separate from any joint accounts.
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What is a lady bug account
A "lady bird" account, also known as an enhanced life estate deed or lady bird deed, is a way to transfer property upon death without going through probate. It allows the property owner to retain control during their lifetime and automatically transfer ownership to a designated beneficiary upon death.
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Can I put the inheritance in my child’s name *+ can my husband still take it
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If you place the inheritance in your adult child's name, the funds would be considered their property. However, this action can have potential legal and tax implications. Here are some points to consider:
- Ownership Transfer: Transferring the inheritance to your child means it becomes their asset.
- Legal Protection: It may protect the inheritance from your husband in the event of a divorce.
- Tax Considerations: There could be gift tax implications.
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If I open a savings in my name will my husband have legal access
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If you open a savings account solely in your name, your husband would not have legal access to it. However, if you commingle the funds with marital assets or use the account for shared expenses, it could complicate the situation. Keeping the account separate and solely in your name is key to maintaining its status as separate property.
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