Friday, May 7, 2010

I live and was divorced in Florida. I will soon receive an inheritance. Can my ex wife claim any of it for an

I live and was divorced in Florida. I will soon receive an inheritance. Can my ex wife claim any of it for an?
Father lives in Kentucky. Ex and my son and myself live in Florida. Father is leaving a small inheritance to me and my siblings. Can the inheritance be used by ex as an excuse to increase child support?
Marriage & Divorce - 4 Answers
Random Answers, Critics, Comments, Opinions :
1 :
how about not telling anyone?
2 :
The Laws are different in every state, only a Lawyer can answer that question, in some states in depends how long you were married to each other, for the wife to receive any portion of your inheritance. In other states it does not matter how long you were married. In some cases it can be consider personal property that was yours prior to the marriage. In that case you would not have to share it with your ex.
3 :
It depends on many factors is your inheritance a business that will raise your income, or a one time lump sum? Is the lump sum big enough so that you could live off it for years, or is it in a trust fund? In most states after your child support is set unless your ongoing income changes due to a reason like due to pay raises, or promotions, better job, you inherited a business, Your child support can not be changed. How you use the money depends also, will you use it to buy a house? Pay your rent in advance for a few months? Neither will allow her to change the child support but if you put it in a CD or buy any thing but a 401K or other retirement it's passable, that it will not change either. Especially if it changes your income for less than 8 months in some states. I say pay your rent in advance, or mortgage, buy a house, use it in such a way that you can then take your regular income and take your time spending it carefully to your lifelong advantage, and not simply blow it. Clark Howards web site has retirement plans that you can remove money from for emergencies without penalties. Or you might want to set up a college fund with part of the money since that usually falls on the shoulders of the one paying child support. If she sues try to get joint custody so you don't pay any support, every state is now equally trying to put men back into the children's life's this way.
4 :
No, but it would be wise to keep it in a savings account in your name only or turn it into some investments.