My father passed away and I am inheriting a large amount of money. I am married and live in California and want to know if this will be community property or is it exclusively mine?

http://www.kinseylaw.com/clientserv2...greements.html -- has a lot of interesting info -- Ace

Hello ss:

I don't know, but I do have an opinion. Certainly, since it's a large amount of money, you're not going to take an exconvicts word.

Assuming that you had no pre nup, it's community property. What you owned before you entered the marriage is your separate property. What you earned/inherited during the marriage belongs to both of you.

Isn't she lucky?

excon

I respectfully disagree. An inheritance is sole and separate property and not community property. It should remain separate as long as those funds are not co-mingled with community assets. I am 99.312% sure of this. (I always leave myself a weasel factor).

Yes normally they are not, but since it is large amount, you need to see about various ways to transfer the money to be the less tax penalty.

So for a large amount, hire an attorney,

But is there a reason that you would not want this to be joint property, are you and your spouse having trouble?

In Texas inheritance is NOT community property. (I am divorced). I used some of the money to pay off our debts and do things around the house and kept the documentation. I got it back out of the divorce. Inheritance is untouchable to the spouse but you need to keep records of how you spent it to prove it was for the betterment of the family and whatever. Ask a lawyer in your state.

FAMILY.CODE
SECTION 770-772





770. (a) Separate property of a married person includes all of the
Following:
(1) All property owned by the person before marriage.
(2) All property acquired by the person after marriage by gift,
Bequest, devise, or descent.
(3) The rents, issues, and profits of the property described in
This section.
(b) A married person may, without the consent of the person's
Spouse, convey the person's separate property.



771. (a) The earnings and accumulations of a spouse and the minor
Children living with, or in the custody of, the spouse, while living
Separate and apart from the other spouse, are the separate property
Of the spouse.
(b) Notwithstanding subdivision (a), the earnings and
Accumulations of an unemancipated minor child related to a contract
Of a type described in Section 6750 shall remain the sole legal
Property of the minor child.



772. After entry of a judgment of legal separation of the parties,
The earnings or accumulations of each party are the separate property
Of the party acquiring the earnings or accumulations.

- it belongs solely to the OP (from my understanding) UNLESS AND UNTIL she co-mingles it with other joint funds, such as placing it in a joint bank account.

It must be held separate.