[quote=SK in CV][quote=bearishgurl]But you need to know that your “inheritance” belongs to you and only youunless you “commingle” it (i.e. deposit some or all of it in a joint account or use some or all of it as the entire downpayment on real property which is only half owned by you or owned by a marital “community”). Doing this could change the “character” of your inheritance and you may already be aware that CA is a “community-property state.”
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Probably the main reason you shouldn’t be giving legal advice is that you don’t know what you’re talking about. Separate property that is used for a down payment on a home, even if the home is purchased as community property, is reimbursable in a divorce. (See Ca Family §2640) The advice about seeing an attorney is sound.[/quote]I understand all this and have seen the reimbursement partitioned at the time of a divorce settlement WHEN there was enough equity in the “family home.” But if there is not enough equity in the property at the time of divorce filing (to “reimburse” the downpayment paid by one party), then all bets are off.
I gave jfel this advice because she stated here that she didn’t expect to have an income of her own for ~20 years. As you know, that is pretty hard to forecast for a twenty-something with soon-to-be two kids.
