Tuesday, 22 April 2014

Is inheritance considered marital property in a divorce

Question

Is inheritance considered marital property in a divorce



Answer

No, provided that the spouse who received the inheritance kept it separate from divisible marital property. That means keeping title to assets (real estate, bank accounts, etc.) in the beneficiary's sole name. It is also vital to avoid mixing inherited with marital property. Depending on the nature and amount of inheritance, it may be necessary to conduct a tracing of the inherited asset to its current location. I strongly recommend working with an experienced family lawyer in that case.



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