This article explores the complex issue of whether inherited assets should be shared in a marriage. It delves into legal implications, financial considerations, and emotional factors, highlighting different perspectives from financial experts. Ultimately, the decision rests with the couple and their unique circumstances.
It can be hard to make the right decision without risking an emotional reaction. So we reached out to financial services specialist and founder of Gillet Agency,“Whether an inheritance should be shared in a marriage is ultimately a personal decision between two spouses,” says Masuda Lehrman.
Meanwhile, Gillet believes that inherited assets should be respectfully shared in a marriage, but not in the case of divorce. “I have many clients who benefit from their spouses inherited assets. Additionally, children of these marriages can benefit tremendously,” he explained.“Many times Trust Funds are set up for children, utilizing these inherited assets to fund the trust.
Everything considered, the decision what to do with the acquired wealth entirely depends on the couple and their unique circumstances. However, to avoid any conflict or unfairne “The right decision would be to take the inheritance and discuss with a Financial Advisor and/or Attorney options to create a Revocable Trust that can own the inherited asset for the benefit of the couple’s retirement and/or for their children,” agrees Gillet.“Make sure to create this mutually beneficial plan together with the understanding that it is revocable and can be changed under certain conditions that are mutually agreed on.
Relationships INHERITANCE MARRIAGE ASSETS TRUST DIVORCE
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woman Says No To Sister's Plea Of Switching Inherited Rings Just Because She Got DivorcedWoman insists sister switch rings worn at their respective weddings as hers reminds her of divorce, faces a refusal.
Read more »
Finding Balance: Commemorating Pets While Designing Shared SpacesThis article explores the delicate balance between honoring cherished memories and creating a harmonious home environment when couples have differing opinions on pet tributes in their décor. It emphasizes the importance of communication, compromise, and alternative ways to commemorate beloved pets without overwhelming the shared space.
Read more »
How to Combine Sentimental Decor with Shared Space PreferencesThis article provides tips on incorporating sentimental items into home decor while respecting each partner's preferences. It emphasizes communication, collaboration, and finding common ground.
Read more »
Honoring Pets and Finding Common Ground in Shared DecorThis article emphasizes the importance of communication and compromise when decorating a shared space, particularly when couples have differing preferences. It also explores creative ways to honor deceased pets while maintaining a harmonious living environment.
Read more »
Balancing Grief and Decor: Finding Common Ground in Shared SpacesThis article explores the challenges couples face when decorating shared spaces, particularly when one partner wants to prominently display sentimental items connected to a deceased pet. It emphasizes the importance of communication and compromise, suggesting ways to honor memories while creating a harmonious living environment.
Read more »
Honoring Pets and Finding Compromise in Shared DecorThis article explores the importance of communication and compromise when decorating a shared space, using the example of a couple navigating differing opinions on pet portraits. It also suggests alternative ways to commemorate deceased pets while maintaining a harmonious home environment.
Read more »