Lexington Herald Leader Logo

Shaky marriage, vulnerable account | Lexington Herald Leader

×
  • E-edition
  • Home
    • All News
    • Business
    • Communities
    • Counties
    • Crime
    • Education
    • Lexington
    • Local
    • Most Wanted
    • Nation/World
    • News Photos
    • News Videos
    • Politics
    • Searchable Databases
    • State
    • Watchdog
    • Columns
    • Tom Eblen
    • All Sports
    • UK Sports
    • College Sports
    • Next Cats Recruiting
    • High School
    • Horses
    • Kentucky Speedway
    • Lexington Legends
    • Reds
    • MLB
    • NBA
    • NASCAR
    • NFL
    • Sports Photos
    • Sports Videos
    • Columns
    • John Clay's Columns
    • Mark Story
    • Next Cats Recruiting
    • All UK Sports
    • Next Cats Recruiting
    • Baseball
    • Basketball - Men
    • Basketball - Women
    • Recruiting
    • Ex-Cats
    • Football
    • UK Photos
    • UK Videos
    • More UK Sports
    • Columns
    • John Clay's Blog
    • Mark Story
    • Politics
    • Elections
    • All Entertainment
    • Books
    • Celebrities
    • Comics
    • Puzzles & Games
    • Events Calendar
    • Horoscopes
    • Movies
    • Music
    • Restaurants
    • Stage & Dance
    • TV
    • Visual Arts
    • Entertainment Photos
    • Entertainment Videos
    • News Blogs
    • Kentucky Weather
    • Photo Archive
    • Sports Blogs
    • John Clay's Blog
    • High School
    • UK Football
    • UK Men's Basketball
    • UK Women's Basketball
    • Lexington Legends
    • Entertainment Blogs
    • Walter Tunis on Music
    • All Opinion
    • Editorials
    • Joel Pett
    • Letters to the Editor
    • National Columnists
    • Op-Ed
    • Submit a Letter
    • All Living
    • Celebrations
    • Family
    • Fashion
    • Food & Drink
    • Fru-Gal: Deb Morris
    • Health & Medicine
    • Home & Garden
    • Paul Prather
    • Religion
    • Travel
    • Readers' Choice
    • Kentucky Obituaries
    • Obituaries in the News
    • Submit an Obituary
    • Customer Service
    • Contact Us
    • About Us
    • E-edition
    • Page Reprints
    • Photo Reprints
    • RSS Feeds
    • Special Sections
    • Site Information
    • Advertise With Us
    • Archives
    • Mobile
    • Mobile Apps & eReaders
    • Newsletters
    • Social
    • Facebook
    • Twitter
    • Instagram
    • YouTube
    • Google+
    • Today's Circulars
    • Classifieds
    • Jobs
    • Cars
    • Homes
    • Homeseller
    • Legal Notices
  • Place an Ad
  • Mobile & Apps

Business

Shaky marriage, vulnerable account

Bruce Williams - Syndicated columnist

    ORDER REPRINT →

May 04, 2013 12:00 AM

Q: My parents are in their late 80s. Several years ago they started to give me money as part of my inheritance for me to benefit from now instead of when they die. The money, which is nearly $120,000, is in an account in only my name.

My marriage has been on shaky ground for the past year and I'm not sure where we are headed. If we get a divorce, I don't want my husband to get his hands on any of this money.

Should I hide it in a safety deposit box or put it in my brother's name? I have heard horror stories of inheritance money being taken by estranged spouses. Please help me. — Reader, via email

A: With the money from your parents in an account with your name, if your marriage goes down the sewer, your spouse would have a claim for half of the money. Whether your husband "should" get any of the money is another matter. The inheritance is a gift to you.

Sign Up and Save

Get six months of free digital access to the Lexington Herald-Leader

SUBSCRIBE WITH GOOGLE

#ReadLocal

If you wish to put the money in your brother's name, that may be an answer. But, of course, if he gets into trouble, that money can be tapped by whoever is trying to collect from him.

Q: My sister was given a life estate in a home. Can you tell me what my sister can do? There are two children sharing in the estate. — Reader, via email

A: I think you have to understand that there is a difference between a life estate and the estate the two children share. A life estate is very simple. It says that your sister can live in the house as long as she is alive, assuming she meets a couple of standards, such as paying the taxes and paying insurance. The fact that two children share in the estate is not relevant.

Until such time as she either passes away or decides to give up the life estate, your sister can stay there without regard to what the others who have an interest in the estate wish her to do. They have no way to shorten the life estate.

  Comments  

Videos

A true Appalachian taste test: What do we think of Dueling Barrels moonshine?

Co-owner of Willie’s Locally Known asks fans to come dine at the restaurant

View More Video

Trending Stories

Festival with ‘A-list music’ coming to Keeneland via producers of Forecastle, Bonnaroo

February 20, 2019 10:59 AM

Curse of Saratoga strikes again? Another Chevy Chase restaurant closes in Lexington.

February 19, 2019 12:19 PM

‘Their hearts showed through their smiles.’ Funeral set for Lexington brothers killed in crash.

February 19, 2019 05:50 PM

Friendly exchange precedes fierce exchange as Kentucky survives at Missouri

February 20, 2019 12:44 AM

Principal of Kentucky high school charged after not reporting abuse of students, police say

February 20, 2019 12:32 PM

Read Next

Oakland teachers to start strike Thursday

Business

Oakland teachers to start strike Thursday

By JOCELYN GECKER Associated Press

    ORDER REPRINT →

February 21, 2019 01:37 AM

Teachers in Oakland, California are set to strike Thursday in the country's latest strike by educators over classroom conditions and pay.

KEEP READING

Sign Up and Save

#ReadLocal

Get six months of free digital access to the Lexington Herald-Leader

SUBSCRIBE WITH GOOGLE

MORE BUSINESS

Vietnam, site of next Trump-Kim summit, model for growth

Business

Vietnam, site of next Trump-Kim summit, model for growth

February 21, 2019 01:35 AM

Business

Japanese spacecraft to attempt landing on distant asteroid

February 21, 2019 01:31 AM
Report: US company to stop sales of genetic tech in Xinjiang

Business

Report: US company to stop sales of genetic tech in Xinjiang

February 21, 2019 01:29 AM
2nd Trump-Kim summit crucial moment for Moon’s presidency

Business

2nd Trump-Kim summit crucial moment for Moon’s presidency

February 21, 2019 01:22 AM

Business

Troubled Oregon dairy farm sells to lone bidder

February 21, 2019 01:20 AM

Business

Officials concerned budget cuts will take away Ocean Rangers

February 21, 2019 01:16 AM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

Icon for mobile apps

Lexington Herald Leader App

View Newsletters

Subscriptions
  • Start a Subscription
  • Customer Service
  • eEdition
  • Vacation Hold
  • Pay Your Bill
  • Rewards
Learn More
  • About Us
  • Contact Us
  • Newsletters
  • News in Education
  • Archives
Advertising
  • Contact Us
  • Place a Classified Ad
  • Local Deals
  • Digital Solutions
  • Media Kit
Copyright
Privacy Policy
Terms of Service


Back to Story