Thank you. So next question:
Scenario: Say wife inherits large sum of money.. not subject to family law division in a divorce.
Couple/wife purchases an expensive RV/truck with some of the money. How are truck & RV titled or registered???
--- wife's name alone?
If so, still her SepProp, so in (hypo) divorce, not subject to divsn as marital /CommProp, imo.
--- husband's name alone?
--- Wanda Wife & Harry Husband, Jt Ten w Rt of Survivorship?
--- Or?
The couple separates/divorces..
As I understand it (where I live, I have been told this by a lawyer), while it can get muddy, muddy = a perfect description if a papertrail exists to prove that the items were purchased using the inheritance monies, then that item/value would not be subject to inclusion in the division of marital assets.
A person's transfer of inherited $ from a/c registered SepProp to jt ten a/c may give rise to a legal presumption.
---- In some jurisdictions, such a transfer to jt ten a/c converts $ to CommProp, so is subj to division as CommProp in divorce proceeding. Because, in everyday English, well, why would a person change the a/c title/registration, if not to transfer an interest in SepProp a/c to the spouse?.
-- In other jurisdictions, that prop maintains its SepProp character - as long as the spouse can provide documentation of the origin of the funds as being thru inheritance.
In a divorce, proceeding, a/c title/registration is/may be prima facie evidence of who the owner is, for purposes of determining in a divorce action, whether the property is ---
--- SepProp thus not subject to division, or
--- CommProp and is subject to division.
But it is a rebuttable presumption which can be overcome w sufficient evidence, typically a signed, written agreement reciting that the transfer was for a specific purpose. Example: a loan for one to start a business and to repay the spouse X percent interest over Y years.
Would it be the same there?
ie this is a big IF out of nowhere.. but say wife was privately (only known by husband) very much considering leaving the marriage, say during perhaps a trip overseas she may decide not to return, potentially all of any inheritance monies, plus any expensive purchases already made with the inheritance monies, would belong to wife and would not have to be considered during the division of assets.
Depends. Yes, possible, imo, wife would end up w prop's purchased w inheritance $. Not clear cut, imo.
At that point, if wife and husband had each separately sought legal advice about a divorce and judicial rulings on prop questions, imo, both atty's would have to pin down more info & details, a/c stmts, etc before predicting likely outcomes and advise each of the two.
Therefore, potentially, husband would be SOL for having access/ownership to any of the remaining funds, nor of the items purchased. He could end up with no RV/truck and none of that money.
Agreeing w you re possibility of husband being in this ^ position, if either filed petition for divorce.
Food for thinking.. ??