Legal Question in Wills and Trusts in New Jersey
money inherited from parents house?
Both my parents have passed away & the house is now up for sale. I am currently married. Is there a way to just have the money received from the sale put in my name? I want to insure that the money is invested wisely. My husband is already looking to blow through whatever money that is received. Someone told me they were in a similar situation & they had the inheritance written up as a gift so her husband couldn't touch it? Is this possible? Or because I am married is my husband automatically entitled to the money also?
1 Answer from Attorneys
Re: money inherited from parents house?
Unless your mother or father's Will specifically includes your husband as a beneficiary, the money from your parent's estates is YOURS, not your husbands.
The money from the sale of the house can be invested however you want it to be [i.e. in a seperate account that you own individually, not jointly with your husband].