Advent-ures in the MSE Forum... Our Advent calendar is live, helping you discover a new corner of the community each day. Visit the homepage and scroll down

Who owns the money in a joint account when there is inheritance money?

in Scotland
5 replies 481 views
DjunaBarnesDjunaBarnes Forumite
1 Post
Does anyone know the answer to this? 

My husband and I have a joint account. We live in Scotland. He transferred the money he inherited from his mother into our joint account. I want to separate. We are amicable so far and thought of splitting the money in the joint account 50/50 however he thinks that this could be perceived potentially as he gifting part of the inheritance to me and be taxed for it.
I see it as it was mixed with our salaries used by both of us and after 25 years of both of us working and creating a family whatever is there is half and half.
And it shouldn’t affect his taxes as it is effectively my money as well since it is in the joint account. 

Any suggestions will be hugely appreciated 
thank you 


  • PrudentPrudent Forumite
    11.4K Posts
    Part of the Furniture 10,000 Posts
    Generally in Scottish law any inheritance does not form part of the matrimonial property. Your husband can keep all of his inheritance if you divorce. I am not sure of the position with regard to tax if he does wish to share this money with you.
  • tacpot12tacpot12 Forumite
    6.9K Posts
    Sixth Anniversary 1,000 Posts Name Dropper
    You inherited any money and shared it with him, you have more of a moral basis on which to argue that he should share it. Don't forget that the a split doesn't have to be 50/50. If you have more need of the money than he does, you can make that arguement to. If you are likely to inherit any money, I don't see why he should split his inheritance if you are not also prepared to give him half of yours. 
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • Norman_CastleNorman_Castle Forumite
    11.7K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper

    I see it as it was mixed with our salaries used by both of us and after 25 years of both of us working and creating a family whatever is there is half and half.

    How long ago was it inherited and added to the joint account? Did your husband intend it to be shared and used by both of you? As the inheritance was left to your husband he has more claim to it than you.
    Getting funky on the scene
  • MalMonroeMalMonroe Forumite
    4.9K Posts
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    If your husband didn't want you to have access to his inheritance, then he wouldn't/shouldn't have put it into your joint account.

    That's what a joint account is for, as far as I'm aware. Sharing expenses and income no matter how much who put into it.

    However, as your split is going to be amicable can't you just talk about it?

    I don't see why it would affect anybody's taxes, unless Scotland has different laws about joint accounts - I'm in England. And as a married couple with a joint account at the time of the inheritance, I'd consider it to be a joint inheritance. If you weren't married then that would probably complicate things but it doesn't seem complex as things stand.

    If your husband doesn't want you to have any of the money, then he should say so. 

    When my husband decided he wanted to leave our marriage, he actually froze our joint account - something I didn't feel he had the authority to do since it was joint. 

    You're probably going to need to consult a solicitor anyway if you're going to go on to divorce so you could perhaps contact one and ask for a free initial consultation. 
  • edited 16 August at 9:01PM
    HeedtheadviceHeedtheadvice Forumite
    2.3K Posts
    Ninth Anniversary 1,000 Posts Name Dropper
    edited 16 August at 9:01PM
    Please do not post if you do not know the answer, even to try and help on a moral or seemingly  sensible basis.

    Prudent has it correct: under Scottish  law....
    On divorce there is normally (but not necessarily) a joint split 50/50 of matrimonial assets which  can include things like pension assets.

    Matrimonial assets do NOT include things like heritable property ( such as the Matrimonial home) purchased prior to marriage ( unless specifically bought for the marriage) ....and inheritances.

    Now one spouse can gift  money to the other without any tax implication or gift an inheritance.

    I am not certain though that holding a monetary inheritance in a joint account makes any difference......unless of course some or all of the inheritance was gifted....

    Muddy water unless you know the  law and best not to guess!
Sign In or Register to comment.
Latest MSE News and Guides

Is your local HSBC closing?

114 branches to shut in 2023

MSE News

Advent Competitions

The countdown is on

MSE Forum

Baileys £10 for 1L at Tesco

When you scan your Clubcard

MSE Deals