I have a CD and a Money Market account with money that I inherited when my Dad died in the 90’s. My accounts have grown since then and was wondering if I have to give my spouse 1/2 of it? I inherited the money after we were married.
Also, my husband hid his savings from the first 15 years we were married and he has NO bank account and never did , only our joint checking acct. He hid it all in cash (crazy). What can I do about that? Am going to have to give him 1/2 of my small amount of money to him while he gets to keep his? UGH.
Your inheritance money in the CD and money market are your separate property to which your husband is not entitled to as long as you did not comingle marital funds (earned during the marriage) with your inheritance money (for example, depositing money earned from employment into the CD with your inheritance money).
Your husband’s cash, as long as it was acquired during the marriage, is marital property to which you are entitled to half. It would be up to him to prove that the cash was acquired exclusively before the date of marriage and not comingled with money earned during the marriage (hence his separate property). Based on the information you’ve provided, this would be difficult for him to do.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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