MarketWatch: ‘We went through all of my 401(k) investments’: I lost my job, then my home. Do I have any claim to my wife’s $200,000 inheritance?
From MarketWatch:
A man who struggled financially after losing his job asked an advice columnist if he has the legal right to an equal share of his wife’s $200,000 inheritance, given that he used all of his retirement funds to get them through their difficult years. The columnist explains that Ohio is an equitable-distribution state, meaning that marital assets are divided fairly, if not equally. Inheritance is regarded as separate property in Ohio, unless it is in some way used to benefit the marital assets. The advice columnist also gives tips for those with inheritance and impending divorce, and advises the man to consider legal costs and alimony payments if he were to get divorced. He also mentions that 37% of workers have taken loans or withdrawals from their retirement accounts and advises to withdraw money from a 401(k) as a last resort. Overall, the advice given is to understand the legal complexities of the situation and to consider all factors before and during a divorce.
Original: ‘We went through all of my 401(k) investments’: I lost my job, then my home. Do I have any claim to my wife’s $200,000 inheritance?