inheritance

[momof 3C's]

My husband and I are just seeing our lawyers. He now states he received a $60 000 inheritance in 2005 which I knew nothing about. I knew of a small inheritance from an aunt worth $15000. His lawyer is stating the camping trailer purchased in 2005 and used by us as a family was purchased partly with the inheritance and the beef cattle we have were also purchased with said inheritance. The mediator told us since the trailer was used as a family item it was a matrimonial asset. Does he have to prove the iheritance was used to exempt these items?
I really hate this hiding of info by him from 3 years ago.
Thanks, Sherri

[Mess]

If the two of you got along, you wouldn't be divorcing. I know you hate this, but really, you have to let go of crap from the past and focus on negotiating what the situation is right this minute.

Divorce court is not the place to bring up stuff that you couldn't solve in marriage councellng.

He does not have to share inheritance with you. So here are the options: He has the inheritance in the bank, which he can show, and this is deducted from his assets or else he spent the money on physical items in which case he can claim the items.

You can try to say that he spent all his money on consumables and services, beer and hookers if you like. You'll have a hard time proving it.

What he basicly has to show is the the purchases of the trailer and the cattle were greater than he would/could have made without the inheritance. This would show that he used the inheritance for the purchases. What you would have to show is that these types of purchases were regularly made with your ordinary incomes. You would have to show that his lifestyle spending, entertainment, etc greatly increased after receiving the inheritance and that is where his money went instead.

Don't get caught up in emotions here, it's going to come down to math and receipts. If you can show it, great. If you can't, you are just adding hours of billing for your lawyer for nothing. Pick your battles.

[momof 3C's]

Will this affect my past taxes as he has not claimed any of the interest earned on this inheritance?

[Mess]

Certain credits and receipts must be claimed by the lower or higher income. Some tax credits like rent receipts can only be claimed against the total family income. Most of your return wouldn't be affected by his. There's no way to really answer this for you without looking over both of your tax returns, but I would say unless the interest is in the thousands it shouldn't really bump you out of one bracket into another. Mostly this is his problem, you can't be blamed if he hasn't declared it.