Legal Question in Wills and Trusts in Kentucky

Re: How should I set up inheritance funds received from my parents?

Whether you put the funds in a joint acount is up to you, but you should be aware that you may lose the status of "non-marital" for those funds if you and your spouse end up in a divorce proceeding. If you set up an account in your name only, those will will be traceable as your non-marital property. As far as what happens at your death you can designate where you want the money to go in your Will.

Re: How should I set up inheritance funds received from my parents?

I am writing you from the Caribbean, because your question is - well -- one folks ask often. Unless you want to make your wife a GIFT OF 50% OF THE MONEY, put the money in your name. The money came from your parents to you. That is not considered her property. However, if you open a joint account and dump the money in there -- welll -- volia, at least half is hers. (It can be argued that it is not, but if you dont want it to go to her right now, dont put it in a joint acocunt). HCW