Summary
Wary parents can do a great deal of good for their children who may be bowled over in love or slightly naive when it comes to potentially sharing their inherited wealth or possessions with their spouse. A child may not necessarily want to listen to the advice of their parent but, in my view, simply raising the important issue of whether an agreement would be a sensible thing to have in place to protect those assets, should the worst happen and the couple were to divorce, wouldn't be a bad thing.
Recent case law underlines the importance of keeping inherited or gifted wealth in the sole name of the family member it is intended for, rather than putting it into the joint names of the spouses.See the full content of this document
Extract
Protect Your Inheritance From Affairs of the Heart
For tax reasons we often see clients advised by their accountants to put property which has been inherited or gifted into joint names, but if this is done it is v...
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