Adam Citron Explains How Couples Can Avoid Money Problems

Adam Citron Explains How Couples Can Avoid Money Problems

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September 13, 2020 – DHC’s Divorce and Family Law Partner Adam Citron spoke to The Wall Street Journal about the complications married couples face when one spouse receives an inheritance. Citron advised that couples who decide to use part of an inheritance to make a big purchase should write a check directly from an account designated for the inherited funds, and keeping records to show the withdrawal. In the event the check needs to be drawn from a joint or single account, the inherited funds should only be placed in that account for a short period, close in time to the purchase, so it is clear that the funds were transferred for “convenience purposes” for that particular transaction.

Citron also suggests having a written agreement, signed by the other spouse, that the money was contributed with the understanding that upon a sale or divorce, the inherited funds are to be credited back to the contributing spouse.