If your spouse is agreeable, then you can put it in the final legal agreement. If you are getting an inheritance, that is not your spouse's property if you keep it separate. You can keep it separate in a trust, an annuity, a stock portfolio with a payable on death to your daughter, and a wide variety of other options. Consult an estate planning attorney.
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You can agree to anything you want. Not sure who the inheritance is coming from. If to you from a family member it would be non-martial property. Having a difficult trying to figure out why you want to keep him as the beneficiary on your life insurance. There's more here to it if you are talking about your estate though. Talk to a good estate planning attorney. That wouldn't be me although I have a couple thoughts on how I would do it in Ohio, but your in Colorado.
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That is not a provision which should be set forth in a settlement of a legal separation case. Upon the entry of the Decree of Legal Separation, you and your spouse lose the right to inherit from each other, unless one of you signs a new Will after the Decree giving something to the other. Once a Decree of Legal Separation has been entered, your property is your property, and your legally separated spouse has no claim to it. You should update your Will after the Decree is entered.
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