How could I go about protecting funds that my mother is giving to me as my inheritance (while she’s alive) when a divorce is still underway? (Child Support & PSS has already been determined). She was thinking about putting it in a joint bank account with both of our names on it, and she would make all the deposits (and keep records proving that she made the deposits). Could the court ever consider this type of account in future alimony/child support judgements or garnishments? Or should it be in her name with me being the beneficiary?
I would like to be able to use this money in the future for a downpayment on a house. But if it’s not in my name, then it won’t show that I have any money in the bank…which may hinder me in getting a home loan. And most banks require YOU to make a downpayment (from your bank acct), not from a relative or another source.
Any help would be greatly appreciated.