A Reddit poster expects to receive a $1.2 million inheritance and wants to place it in a high-yield savings account while using interest for expenses. They aim to keep the money as separate property to prevent claims from a spouse. Inheritances are typically separate property in most states, which means a spouse can't generally claim it unless the heir converts it into a joint account or makes joint purchases. It's advised to consult attorneys or financial advisors for protection strategies related to inheritance.
An inheritance of $1.2 million is considered separate property in most states, not marital property, even if received while married.
Transferring an inheritance into a joint account with a spouse could change its status to marital property, making it available in potential divorce proceedings.
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