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vickiedavis · Mar 20, 2011, 04:56 PM

OK guys this will be my last post since everything I say seems to be taken out of context. The money was not left to my daughter as a "when she gets a certain age she will inherent this amount" It was left in my name, as a way to take care of her. Medical care, school, clothes, dance lessons if she wanted them. That sort of thing. The same thing that a father of divorce would pay as child support. He knew that he would not be there if she needed anything. I was the one that decided that I wanted her to be able to count on it for her future. And she can. I don't have to sell our home to give her the money. She has been home schooled or in private schools all through high school. Art school, she has no student loans, owes nothing. Nice car, & join ownership in the business that the two of us run. She can have anything that I have and knows it, all she has to do is say so. I just don't feel she should be made to share profits with my current husband made on anything he had no part it buying. Maybe my first post should have explained more, but I didn't want to write a book and felt I had stated my question well enough.

Fr_Chuck · Mar 20, 2011, 05:13 PM

In your first post, it said "SHE was left" not you were left that made a very large difference, if the money was left to you, then you are free to do with it as you want,

But if the money was left to her it is different, I would wonder if you are merely changing the story now, since you don't like the answers.

So the actual wording of the will makes a differerce.

ScottGem · Mar 20, 2011, 05:15 PM

Originally Posted by vickiedavis

The money was not left to my daughter as a "when she gets a certain age she will inherent this amount" It was left in my name, as a way to take care of her.

You may not have thought so, but the above is a key piece of info. You should have included that initially and especially after my first post. Instead you said "My daughters father left her quite a bit of money". This implied the money was left in her name. What you have told us has not been taken out of context, you have just neglected to provide the proper context.

So I now need to clarify something. Do you want your daughter to get her fair share of the investment in the house or do you want her to have the house? Who has been paying the mortgage and taxes all along? What percentage of the house price was the $30K? This info is necessary to suggest how you proceed.

vickiedavis · Mar 20, 2011, 06:30 PM

Thank you Scott,
We (my daughter & myself) paid $70,000 for the property (35 acres). Did improvements and built a house. It was appraised in 2009 for $270,000. I have paid all of the tax's myself. I remarried three years ago but the only thing my husband has paid was utilities. He has not made any kind of investment into the house other than a new light fixture for the closet. I don't have a mortgage, it has all been paid through investments in rental properties and our business, which again was all done before I remarried. The question was: all three of us want to sell the home we live in and buy a new home. Since the money to purchase the new home would come only from the sell of our current home, I want to new house to go only to my daughter. I agree that if we were to purchase a new home and get a mortgage that my husband was paying on, that he would be entitled to part of it back. That is not the case. I am told that if we buy anything after we were married that it is 50/50 however this would be bought entirely from money that was from before our marriage. I guess at this point just putting a new home in her name would be the smartest thing to do. Would he still be entitled to half of what our house sells for though?

AK lawyer · Mar 20, 2011, 11:06 PM

No, I don't see how he could claim half the proceeds from a sale of premarital property.
If the new house were in your name, and you did nothing else, when you die your husband would get a substantial share. Even if you leave it to the daughter by will, depending on where you live, he may get a forced share of your estate. Consider either a trust or joint ownership with right of survivorship. But in any event consult with an estate planning attorney.

ScottGem · Mar 21, 2011, 03:27 AM

I think its rather simple here. Have your daughter buy the new home. Have the deed solely in her name. You may want to include a proviso that you and your husband have the right to live in the house as long as you want.

But I would agree that it would be best to consult an attorney about the best way to do this.