California is a community property state, which means that the laws of community property govern marital estates and assets.  Generally, that means that whatever is earned or added to an estate by even one spouse during a marriage is generally seen as the property of both parties equally.  However, there are exceptions, including assets that were in place before the marriage and inheritances that are bestowed after a marriage to one person.  Anyone who does come into an inheritance, though, and wants to keep it separate should seek the advice of a San Diego family lawyer, as there are steps that should be taken to make sure that the asset does not become part of the marital estate.

Inheritances and Placing the Funds

When someone inherits cash and/or other assets, that person should be careful to keep those assets separate from the marital estate.  What that means specifically is that once the benefit is conferred, the inheriting spouse should not provide access to accounts or titles of those assets by putting his or her name on those assets.  That could lead to a finding of transferring the asset into the marital estate and therefore would be subject to division if the spouses ever do decide to end the marriage.

If the inheriting spouse wants to place the inheritance into a trust for others in the family such as children or grandchildren, that can also be done without having the assets become community property.  However and once again, the inheriting spouse should be careful not to provide any control of that trust to the other spouse, as even that much influence on the asset in question could lead to a finding that it is community property in the future.

San Diego Family Lawyers

If you are concerned about certain estate planning issues and you want to make sure that no confusion arises down the road, you need to seek the help of San Diego family lawyers who understand how to manage a financial estate such that the property will be clearly defined.  Contact the law office of James D. Scott today to schedule an initial consultation.