How to protect your money in a minnesota divorce?

Hello,

My husband and I are considering a divorce. We’ve kept all of our money/finances separate. The only joint property we have is the house. The cars, 401Ks, IRAs, everything else is separate. Would he be entitled to any inheritance that I receive? We both make about the same for our salaries.

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    3 Responses to How to protect your money in a minnesota divorce?

    1. jilllpilll says:

      Just because your accounts are "separate" does not mean that your spouse will not have access to them, it depends on the laws in Minnesota. Where I live, it is a community state, which means all assets and liabilities are in one lump. We both owe for our bills and we both have a right to each others 401k and IRA’s.

      Be very careful

    2. Jeanne R says:

      You need to contact a Minnesota Divorce Attorney and get the facts. I live in California, which is a Community Property State. While we each have a claim on the others’ 401(k)’s, 403(b)’s, IRAs’, etc and we are both responsible for any debts there are special rules that apply to inheritance. If the inheritance is kept in the heir’s name alone then it is "sole and separate" property. But other states have different rules and laws. You need to ask an attorney who is licensed to practice in your state to be sure.

    3. BetheOne says:

      An attorney is best for this question. In some, most or all community property states any "money you make during the marriage" is considered community property or joint. Yes, if you make the same amount it should be a wash.
      Is the marriage over 5 or 10 years this could determine what he or you gets as well?

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