he inherited money.....now what?

[johnslove]

So, my FH just got a good chunk of money and we knew it was going to happen before we were even engaged. I always thought about putting the money towards a house and invest the rest, maybe even pay off some of my credit debt with it ;) but he now just wants to invest the whole chunk! We rent an apt in a place we may not want to spend the rest of our lives. The houses here go for 500,000 for a hut in the ghetto so it is not ike it is cheap, but i think a house is an investment. He tells me it is his money and he can d what he wants with it. But I am going to be his wife in a year and a half! Am i wrong for wanting to do with t the things I want to do?

[Nekochanpurr]

Thats a hard one.. It IS his money, but you will be his wife soon, so he should take you into account.. =/ Sorry i can't be more helpful. Good luck! If you have trouble finding things to do with it, i could always give you my address. :D

[SerendipityCrafts]

It is a tough one but the money was left to him. If he invests it, a year and a half from now, with luck it will have grown a bit, you will be his wife and perhaps he will want to use it for a house, at that time. It also wouldn't hurt to save and add a bit more to it.

In the meantime, I say it's his money to do what he wants with. Sounds like he's got a good head on his shoulders.

Perhaps he'd like to invest in my biz???? :rofl:

[MrsBold]

Well, in many places the housing market is declining, so maybe he wants to wait and invest in something with more stability? It IS his money but I do think you should both sit down and discuss it together. Have some reasons planned for why you want to do what you want and he should do the same. I find that sitting down and talking normally helps in situations like this. It is a big decision and it may stress him out a bit.

[bichonlvr]

]The houses here go for 500,000 for a hut in the ghetto so it is not ike it is cheap, but i think a house is an investment.

Dear lord where do you live????

Communication is key to any healthy relationship!!!

[10Nov2008]

I can understand your frustration and his way of thinking. If he just inherited the money...that must mean that someone close to him passed away. In an odd way, he might also see the money as a direct line to that person. He's not really willing to part with it. Investing soundly isn't a bad idea. You might not live in the ritzy area forever and these are troubled times. As long as he's not going crazy and spending it on bubblegum or something equally rediculous, let it go for right now and perhaps broach the subject a little ways down the road when he has had a longer chance to grieve.

[FFC]

He's right. It is HIS money, and he should have the final say in what gets done with it. But I do believe that, if you two really are going to spend the rest of your lives together, that it is very important that you two discuss and eventually agree on what gets done with the money. Investing it is a great idea IMO. But as long as it's a smart investment.

[Measha]

Well it sounds like he's been thinking about it. Good investments couldn't hurt. The housing market is in a major decline right now and will probably hit the best points around this winter. It's something the two of you need to talk about openly, and both be understanding about. I have to agree with the rest of the gals, in the end it is his money.

[WBandMe]

I agree too. Yes, you will be married soon, but imo until then you can have opinions about it, but not an actual say. His money, his decision. When it officially belongs to BOTH of you, then you should both be happy with the decision. I agree with what someone else said... if he's investing it wisely, let it go. If he's out gambling or buying bubblegum with it, then I think your feelings on it would be more appropriate.

[WebLady]

Communication is key to any healthy relationship!!!I Totally Agree!

Sure it is "his" money, but if you are going to be married then you two should be able to talk about things, especially those that will affect your future together (good or bad). So talk to him and share your thoughts and feelings and let him share his; then hopefully you guys can come up with something that you can both agree on.

If you still don't agree then I guess you will have to go from there. I would be a little ticked if my husband made a big decision like that without at least consulting me. But before we were married I guess I would just hope that he'd consult me; I don't know.

[Kfancii]

Even if you were already married, it is my understanding that the law (even in a community property state like Texas) says thet money received from an inheritence is is the sole property of the person who inherited it. Not sure where you live, but I would imagine that the laws are very similar to ours.

Now, I understand your frustration, but as the others have said, the best thing for the two of you is to talk it out and see if you can come to a compromise. With the housing market declining like it is, your FH might be making a good choice to invest the money instead of spending it right now. When my FH and I get married I will be putting my house on the market and I'm hoping that we see an upward turn in the next year because right now my house is appraised for $15K less than I paid for it, and $8K less than I owe on it. :purplex:

[LadyDante]

Even if you were already married, it is my understanding that the law (even in a community property state like Texas) says thet money received from an inheritence is is the sole property of the person who inherited it. Not sure where you live, but I would imagine that the laws are very similar to ours.




Any property, received by gift, bequest or devise, or inheritance, even if during the marriage, will be considered to be separate property of the spouse that receives it.
You gals are a great review for my community property final ;)

[bichonlvr]

I Totally Agree!

Sure it is "his" money, but if you are going to be married then you two should be able to talk about things, especially those that will affect your future together (good or bad). So talk to him and share your thoughts and feelings and let him share his; then hopefully you guys can come up with something that you can both agree on.

If you still don't agree then I guess you will have to go from there. I would be a little ticked if my husband made a big decision like that without at least consulting me. But before we were married I guess I would just hope that he'd consult me; I don't know.


WELL SAID :)

[bichonlvr]

Any property, received by gift, bequest or devise, or inheritance, even if during the marriage, will be considered to be separate property of the spouse that receives it.
You gals are a great review for my community property final ;)

Even in states like CA?

[LadyDante]

Even in states like CA?

That is CA law actually.
Also, any interest that that inheritance would earn would be considered his separate property as well.