My wife and I earn $425,000, but my $10 million inheritance complicates our financial planning – how do we ensure fairness?

Inheriting money can be a positive thing — especially when there’s lots to go around. But it also has the potential to complicate matters.

In this Reddit post, we have a couple who have been married for a few years who are 29 and 30 years old. They don’t intend to have children and have a net worth of around $1 million, of which 80% is in real estate and the other 20% is in retirement accounts.

The couple has a joint income of $425,000, and both parties work. But the poster brings up a valid concern regarding an inheritance he recently received.

That inheritance is worth $10 million. And he and his wife life in a state where an inheritance and its potential growth are considered separate property in the event of a divorce.

The poster and his wife enjoy their jobs and intend to continue working for about another 20 years before retiring early. But the wife is concerned that they, as a couple, will now live a lifestyle that doesn’t emphasize savings due to the inheritance — an inheritance the wife may not see a penny of in the event of a divorce.

The husband understands his wife’s concern and is trying to do what he can to make things fair and give her peace of mind. And he’s reached out to Reddit for advice.

I have some thoughts on this situation myself that I’m going to share. But either way, I think this is an important thing to be talking about.

Making things equitable

Money can be a big source of marital conflict, so I’m happy to see that the poster is invested in making things fair for his wife. And I also think there are different solutions here.

First, the poster could put a postnuptial agreement in place that gives his wife the right to some of his inherited assets. He could also convert his inheritance, or a portion thereof, into assets they own jointly. Or, he could use funds from his inheritance to pay for joint expenses, thereby allowing his wife to save all of her salary in an account that’s just for her.

And these are just a few potential solutions.

But I have to say, I’m glad the wife spoke up here and expressed her concerns. And I’m equally glad that the poster is taking them seriously. In situations like these, open conversations can lead to the best outcomes.

It’s best to consult a professional

I have no doubt that the couple here is going to work things out. Why? Because they’re both invested in working things out, and they’re being open with each other. But I do think they could use some help in figuring out an optimal solution. So to that end, I’d suggest two things.

First, I think they should consult a financial advisor to see what suggestions they have. I also think it’s wise to get the help of an advisor given the large sum the husband has inherited. With $10 million, there’s lots of potential for that money to grow if it’s invested savvily.

Secondly, I think the couple should consult an attorney who can help them put the right legal arrangements in place. That could include a postnuptial agreement, or something else. It’s also important to make sure the couple has the right estate-planning tools in place, such as a trust, to pass on assets. That’s an important thing regardless of wealth.

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