Just wondering what people think about this situation.
Husband inherits $750k, puts the money into joint family account. Six months later he buys an expensive car, pays for it from the same account.
I have read that judges will allow some leeway on this matter, especially given that he has walked away from the remaining $650k, and the joint account was 'just used to hold the funds while he looked for the right car'.
Second level of complication; fast forward a few years, he then buys a second expensive car, more expensive that #1 and again pays for #2 from the same joint account. Six months after he buys car #2 he sells car #1 and deposits the proceeds back into the same account. Car #2 was significantly more expensive, and he spent about $15,000 on improvements during the marriage.
Now, ten years later, he claims that car #2 is excluded...that he can trace the funds from inheritance, to joint account, to car #1, to car #2.
Opinions?
Husband inherits $750k, puts the money into joint family account. Six months later he buys an expensive car, pays for it from the same account.
I have read that judges will allow some leeway on this matter, especially given that he has walked away from the remaining $650k, and the joint account was 'just used to hold the funds while he looked for the right car'.
Second level of complication; fast forward a few years, he then buys a second expensive car, more expensive that #1 and again pays for #2 from the same joint account. Six months after he buys car #2 he sells car #1 and deposits the proceeds back into the same account. Car #2 was significantly more expensive, and he spent about $15,000 on improvements during the marriage.
Now, ten years later, he claims that car #2 is excluded...that he can trace the funds from inheritance, to joint account, to car #1, to car #2.
Opinions?
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