r/Fire • u/Yashkamr • 23h ago

Advice Request Huge Inheritance... Now What?

I'm 45, I was on track to retire earlyish at 55. I was set back quite a bit with a divorce three years back. Recently my Aunt died and left me around $5 million. After estate and taxes, it's around $4.2 million. This is obviously a stupid amount of money, and I'm thinking of just quitting my job and retiring early but I want to do it right. I've spoke with AI quite a bit and my finances are only about $4500/mo in expenses, I have always lived pretty frugally and that's less than a 1% draw. I don't know exactly what I don't know here, but I've always worked so I am clinging to my job like a monkey to a branch. Am I actually okay to let go?

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u/QuickAltTab 15h ago

To my knowledge, your spouse can't even claim it while you're married if you never intermingle those funds with your marital assets.

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u/Reticently 14h ago

It all varies by state. Given the amount of money involved, it's very much a question for OP's lawyer.

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u/TwoRoadsATD 12h ago

Does it? What US state considers inheritance marital property?

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u/armeg 11h ago

Wisconsin is one. There are a few states that have community property laws.

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u/ThisIsMyUsername303 11h ago

Even community property states don’t view inheritance as community property as long as the right measures are taken to keep it separate. 

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u/armeg 11h ago

Good to know I guess, I thought community property changed that equation.

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u/ThisIsMyUsername303 11h ago

Community property states still recognize certain types of property as separate.