Inheritance Question – Will My Estate Go to My Child’s Spouse?
There can be a lot of questions surrounding the topic of inheritance. At first it seems like such a simple idea: you leave certain possessions to certain people or organizations. Easy right? Unfortunately there are many more facets to leaving an inheritance to someone, or multiple people. What if you want to leave assets or property to your children and they are married? Will their spouse have equal access to your child’s inheritance? As with all financial information, you should get it from a financial professional. Ian Filippini is an experienced and trustworthy financial consultant. In this article Ian Filippini will briefly discuss what happens to your child’s inheritance if they are married.
Ian Filippini will be discussing what happens to your child’s inheritance if they are married, according to California law. Ian Filippini wants you to know that if you live in a state other than California, it is best to contact a financial professional from your state that can better describe their specific inheritance laws for you.
Ian Filippini asserts that in California, if you leave assets or property to your child, or children, it will belong to them and them alone, even if they are married. Any inheritance that you leave to your child will become their own personal property, not joint property, even if they are married. Ian Filippini says that the inheritance will not automatically become community property, even in California.
Unfortunately, there is still a way for your child’s spouse to get rights to the inheritance. Ian Filippini reminds you that if your child puts the inheritance into a joint account, then it will become community property with their spouse. Ian Filippini says that if your child wants to keep their inheritance legally theirs only, they must keep it in a separate bank account.
No advice is given or intended. This article is not to be considered legal advice. Ian Filippini is not an attorney. Filippini Financial Group, Inc. is not a law firm.
Ian Filippini is Santa Barbara area’s current president of Filippini Financial Group, Inc. Ian Filippini has and continues writing articles relating to asset protection, financial advice, real estate, insurance, tax, and estate planning. Filippini Financial Group, Inc. and Ian Filippini have spent many years using their unique expertise and hands on approach. Ian Filippini is proud of the value provided to hundreds of retirees and pre-retirees in many areas of wealth management.
Originally founded by Ian Filippini’s late father Alfred Filippini. Filippini Financial Group, Inc. is located on Coast Village Road in Montecito, California. Ian Filippini’s mother, Deborah Filippini, and brother, Alex Filippini, moved to the Montecito and Santa Barbara area.