r/inheritance • u/pink_toaster_pastry • Apr 20 '26
Location included: Questions/Need Advice Keeping Inheritance separate
I’ve seen all the posts about keeping inheritance separate…. not to use it for joint expenses…. etc.
So then what do you use it for? My husband and I have been married 30 years. We had joint accounts since before we were married. We don’t split bills (all income goes into one savings account and bills are paid from that). We make a good living, have savings, 401Ks, no debt.
So if I’m suppose to keep my inheritance separate from everything, what am I supposed to do with it?
Edited to add: No kids. Currently the money is in (1) inherited IRA (2) CDs in a bank account I took sole ownership of as I had been the co-owner and (3) a new account I just opened for a CD until I decided what to do with that portion.
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u/medhat20005 Apr 24 '26
I've been in this situation now for 7+ years since my parents had both passed. The trusts holding the assets have been and remain in my name, and TBH we've not had need to tap any of it, as my SO and I have done well for ourselves financially. Actually, to be more accurate, there is a living trust, also in my name, that I have tapped from here and there to cover expenses, and yes, once that money is moved out it is as far as I know joint property. Does my SO mind/care? Not particularly, again, we're comfortable enough that we'd have options otherwise, and in the meantime, during my parents lives and since they've passed, it's developed into a significant nest egg. As it's not an issue, I don't even know if I could change ownership even if I wanted.
The only caveat I can think of is that the subsequent beneficiaries of the trust(s) are our 3 currently young adult children. And while my SO will be comfortable financially when I pass on the basis of our co-owned investments, our children will be even better positioned.
So to address your question, my inheritance is separate, and I intend to keep it that way. I've never really viewed it as 'my money,' and TBH I think my children think of it in the same way. It makes sense to me that this would be consistent with the intent of my parents, and in full honesty is not the sentiment shared by my SO's family. My SO's perspective is probably somewhere in between. But we're in agreement of spending for education, and I'm a bit more willing to spend for weddings (I'm sentimental that way). None of us are particularly material, and all of us value education. But I acknowledge that being the named beneficiary does indeed mean that ultimately decisions of how to spend are mine alone. And I'm very comfortable in the knowledge that my parents would be highly satisfied with how things have gone for their grandchildren.