4
   

Coin collection inheritance

 
 
Hawkman
 
Sun 29 Nov, 2009 10:33 pm
When my wifes father passed away 10 years ago, he left my wife a bag of old coins. Lot's of valuable 1800's silver dollars along with alot of other antique coins. We are in the process of getting a fairly simple uncontested divorce handled by a mediator, and when I brought this up she said that it is considered an inheritance and therfore is not to be considered. There is no paperwork to document this, and the money was given to both of us, not just her, but there is no documentation on that either. It has always just sat in our dresser drawer. I think this should be considered as common proprty to be split or traded with something else. Is this all hers just because she says she inherited it?

Thank you
 
hawkeye10
 
  1  
Sun 29 Nov, 2009 10:45 pm
look here:
http://beta.essortment.com/35847-legal-questions-divorce-affect-inheritance.html



0 Replies
 
Hawkman
 
  1  
Mon 30 Nov, 2009 08:03 am
The above link was helpful, but didn't say much in regards to NYS and/or the documentation required to show proof of inheritance. I say that he gave it to us both, she says that since she is the daughter, it was only meant for her.
0 Replies
 
Phoenix32890
 
  4  
Mon 30 Nov, 2009 09:38 am
@Hawkman,
Quote:
We are in the process of getting a fairly simple uncontested divorce handled by a mediator,.........


I don't know anything about the law, but the sentence that you wrote and I quoted screamed at me. In a "simple, uncontested" divorce, where people are attempting to be reasonable, it seems to me that the issue of the coins would be a no-brainer.

Your almost ex-wife's dad left her a bag of coins. Why are you so concerned about sharing them? It was his legacy, passed on to his child, a sentimental gift.

It wasn't like you had no money, and the coins would make the difference between plenty and poverty. For Pete's sake, they have been just sitting around for ten years.

I don't think that your divorce is "fairly simple" at all. It almost never is.
Phoenix32890
 
  1  
Mon 30 Nov, 2009 10:13 am
@Phoenix32890,
Quote:
The laws of dividing property vary from state to state. As a starting point, however, most states allow parties to keep their own separate or nonmarital property. Nonmarital property includes property that a spouse brought into the marriage and kept separate during the marriage. It also includes inheritances received during the marriage and kept separate during the marriage.


http://public.findlaw.com/bookshelf-mdf/mdf-10-3.html

sozobe
 
  1  
Mon 30 Nov, 2009 10:26 am
@Phoenix32890,
Was it kept separate, though?
Phoenix32890
 
  1  
Mon 30 Nov, 2009 10:40 am
@sozobe,
Soz- From what I have read, "separate" would be, for instance, inheriting some money, and opening an account in one person's name. If the money were put into a joint account, that was held by both husband and wife, it was no longer separate.

How does one figure whether a bag of coins were held "separately"? Did the wife put it in her bureau drawer, or were the coins tossed into a closet used by both of them? Beats me!!! Surprised
sozobe
 
  1  
Mon 30 Nov, 2009 10:44 am
@Phoenix32890,
Yeah, that's what I had in mind when I asked. The part you highlighted stopped before the "separate" part, which means it's inconclusive.

I'd tend to think that being kept in a communal bureau in a shared home is not really separate -- a safe-deposit box in her name would be, for example. But it's tricky.
sozobe
 
  1  
Mon 30 Nov, 2009 10:46 am
@sozobe,
Needless to say, if you feel strongly that those coins were intended for you as well as your wife -- and I think that's possible, depending on a lot of stuff I don't know -- you should talk to a lawyer about it.

If your goal is a simple, uncontested divorce, probably easiest to drop it.
0 Replies
 
djjd62
 
  2  
Mon 30 Nov, 2009 10:50 am
grow up, they're your wife's coins, let it drop
0 Replies
 
engineer
 
  1  
Mon 30 Nov, 2009 12:51 pm
@Hawkman,
These coins only have value on paper. It's been ten years and you haven't sold them, appraised them, traded them, etc. Neither you or your wife ever expected to sell them, so they really have no value other than sentimental. If they have sentimental value to you, ask your wife for one coin to remember your father-in-law by and then let it drop.
0 Replies
 
Hawkman
 
  1  
Mon 30 Nov, 2009 01:09 pm
Thanks, some very valid points, I will probably let it slide with a coin tossed in for the memories. It's just that we have been honest with each other since this started and I feel that she was trying to keep this (a large amount of money) out of sight and conversation. Funny how this didn't seem important to bring up but 'half of the value' of my motorcycle - DID seem important to her.
djjd62
 
  1  
Mon 30 Nov, 2009 01:13 pm
@Hawkman,
yes, but half the value of the motorcycle came out of funds that belonged to marriage
0 Replies
 
Hawkman
 
  1  
Fri 4 Dec, 2009 03:21 pm
You are correct, you were all correct, thinking about this was foolish. So many other things to worry about. Guess the whole divorce thing just made me think irrationally. Thanks for everyone's input, it did help me put things in perspective.
sozobe
 
  1  
Fri 4 Dec, 2009 03:52 pm
@Hawkman,
Glad it was helpful, Hawkman. I get that this is a tough time for you.
0 Replies
 
 

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