Legal Question in Family Law in California
trust, taxes while seperated
I live in California and live apart from my spouse although we are not legaly seperated I am inheireting a large (to me anyway) trust. Can I keep this money seperate in the event we divorce simply by never co-mingling it? If I buy a property solely with those funds will it be protected also? How do I determine if I is better to file joint or individual taxes? We have grown, college-age (finacial aid) and minor children together. Thank you.
1 Answer from Attorneys
Re: trust, taxes while seperated
Your inheritance is separate property. If the trust is maintained and all transactions are conducted through the trust, you should be able to maintain the necessary tracing of funds to show it is your separate property. Do not deposit any current income into the trust, without the consulting with an attorney.
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