Legal Question in Wills and Trusts in California
If my parents have established a trust account with me as the beneficiary, when they pass away and I inherit the trust, is it community property and shared by my husband?
2 Answers from Attorneys
Inherited assets are separate property, but if you want to keep them separate, you must be careful not to commingle- do not put cash or securities in an account with your husband's name on it, or use to build an extension on the community residence (without a written agreement.)
Agreed. This is your separate property and if you choose to share it with your Husband you can do so but are not required to do so. The same will be true for any inheritance he receives from his parents or whomever. Be sure to keep it in a separate account and do not mix it in with the community assets unless you intend to make a gift of it. The choices are yours to make but make them intentionally and document it along the way.