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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 38932
Experience:  Texas lawyer for 30 years in Estate law
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I am separated from my wife for more than 2 years and my mom

Customer Question

I am separated from my wife for more than 2 years and my mom passed. She left me funds that is in a IRA and non-IRA account and a trust that owns her house to be sold.. Her money mgr is asking me to complete forms for a IRA and non-IRA account to deposit her funds into. My wife says she has rights to these funds since they will be considered retirement funds. How do I ensure thee funds are deposited into an account and not co-mingled so she can cloud the issue to get access to my inherited funds?
Submitted: 4 months ago.
Category: Estate Law
Expert:  RayAnswers replied 4 months ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

Expert:  RayAnswers replied 4 months ago.

She is wrong under PA law these are separate funds.All you need do is keep them in a separate account in your name and social and do not mingle them into joint account or add her name to them.As long as you do this you can trace where they came from and that they have remained separate the entire time.The judge here in a PA divorce would agree and award these to you.Thats clear and she is just wrong.

Expert:  RayAnswers replied 4 months ago.

Reference

n Pennsylvania, separate property is property that is owned by one spouse only. This is property that was acquired or purchased before the marriage, or after the marriage if acquired by gift, bequest, or devise. Also, property that was purchased with money earned before the marriage is separate property.

Pennsylvania Marital Property Laws - FindLaw

Expert:  RayAnswers replied 4 months ago.

Clearly these are your funds and she has no claim to them in a divorce.

Expert:  RayAnswers replied 4 months ago.

I appreciate the chance to help you tonight.Thanks again.

Happy Halloween to you too.

If you can rate 5 stars it is much appreciated.

Customer: replied 4 months ago.

If I put my 14 yr old as beneficiary - is there anything I can do to ensure the funds are protected from my wife to access?

Expert:  RayAnswers replied 4 months ago.

Yes by naming a person as guardian in your will of the child's estate.Then that person can be named guardian and control the funds for the child here.Thats the best you can do in such a situation.

Customer: replied 4 months ago.

how do I get this will to name a guardian (my sister)? I don't have a will yet so is this just added in the terms of the will? Would it help to instead have my daughters funds in a trust?

Expert:  RayAnswers replied 4 months ago.

You could put them into a trust.You set up living trust and then name trust as the beneficiary and they are paid into it.All your assets pass to the trust and the trustee has control for the benefit of the child.

Expert:  RayAnswers replied 4 months ago.

Free trust forms here

https://freelegalforms.uslegal.com/living-trust/revocable/

You can do your own here.