Do inherited CDs deposited into a joint account become community money in a marriage?
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Do inherited CDs deposited into a joint account become community money in a marriage?
Asked on December 20, 2011 under Family Law, Tennessee
Answers:
Paula McGill / Paula J. McGill, Attorney at Law
Answered 12 years ago | Contributor
In Georgia, inherited property is not marital property. However, a problem of accounting occurs if you comingle the funds with marital property. Therefore, if you've already deposited the funds in the account, withdraw the remaining funds and put it in a separate account with your name on it (John Doe, Inherited Funds).
If the divorce has already been filed, you have to determine how much of the inherited funds are still in the joint account. The other spouse can argue that you decided to make the funds marital property because you placed it in the joint account. Another argument can be made that the funds were already spent on martial debt.
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