Q & A Table of Contents
He Wants My Money But It May Not Be Mine
From: Megan, Turnbull, Connecticut
Question: I am divorcing my husband and every time he gets upset he says he is going to take all or half of the money my father left me when he passed away. It is all in my name but my brother and sister need to get a portion of it. It is all tied up in T-Bonds. My mother and father were separated for over 30 years but legally still married. I was however the executrix of my fathers estate. Can I claim that since my mother and father were still married that the money is really still hers?
Response: You need to figure out whether your husband’s insistence on taking the money is a negotiating ploy or a legitimate possibility. The whole issue may be out of his hands — or yours — depending on the laws governing such funds in your state.
One question in my mind is, if you have control over the money but your brother and sister need a portion of it, how come you’ve never distributed your siblings their share of the funds? If the law says you cannot touch the money during the divorce process, then it may be too late. On the other hand, if you can distribute funds to your brother and sister, even though your own share might possibly be at risk, unless by some weirdness they are parties to the divorce, it seems unfair not to distribute their funds to them. Then, while the remainder may be at risk in the divorce, at least your brother and sister get their fair share.
If you have a lawyer, you should rely on her/his advice on the legal issues. Without legal representation, you run the risk of bargaining away assets that are not properly yours. Don’t do this on your own.
Good luck,
Steve
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