In a divorce, financial matters can be complicated, and heated and complex disputes can arise over matters pertaining to property division. These issues are particularly difficult if there are complex or unusual assets at stake, such as an inheritance received during the course of the marriage.
You may have questions regarding what happens to this type of property in a divorce, as well as how you can protect your property rights. If you received an inheritance while you were married, you would be wise to work with a Florida attorney who can help you safeguard your financial interests during this complex legal process.
What's going to happen to my inheritance?
If you received an inheritance while you were married, you rightfully have concerns about what will happen to it. In some cases, an inheritance may be separate property, which means that it will generally not be eligible for division in a divorce. Here are some basic facts about your inheritance and property division:
- In most cases, an inheritance is not marital property, which means that you may not have to give up a portion to your soon-to-be-ex-spouse.
- If you already shared a portion with your spouse, it is possible that certain state laws may affect your situation, and your spouse may have rightful share to a portion.
- Comingling has a significant impact on what will happen to the inheritance. Meaning, inheritance already used as a joint asset could be subject to division.
Protecting what you owned before marriage
On occasion, a person will enter into marriage with wealth, such as from an inheritance. While property owned separately before marriage is generally exempt from division and distribution before marriage, it is wise to seek guidance regarding the best way to protect your property rights.
One of the ways that many people choose to protect their property is through a prenuptial agreement. If you drafted a prenup before you got married because of your assets, you would be wise to work with a lawyer who can help you enforce the terms of this agreement.
Why experience matters
Property division is one of most complex issues in a divorce, especially when there is an inheritance at stake. If you have questions or concerns over what will happen to certain property or you would like to know how you can protect your rightful share to marital property, you will find it beneficial to reach out to a family law attorney.
Issues regarding property division are complex, but with the right help, you can minimize potential complications and ease the emotionally complex process of a divorce.