Legal Question in Family Law in Arizona
If inheritance funds are deposited and mixed in a joint account with all other income can it seperated out after the fact to be considered a loan to the other spouse?
Asked on 5/11/12, 7:04 am
1 Answer from Attorneys
Joyce Johnson-Stovall
Johnson Stovall and Associates PLLC
It depends... if you can trace the inheritance and it was not intended as a gift to the community it remains separate property. If you spent the money for the marital community, it may be treated as a gift. If you have identified the money prior to spending it as a loan... to either the community or the spouse, it may be subject to reimbursement.... the question is, what documents do you have the demonstrate that the money was a loan... and to whom?... and is the document signed by the other spouse?
Answered on 5/11/12, 7:15 am