One of the biggest stresses of a divorce is trying to understand what becomes of assets you may be counting on. If one of those assets is a sizable inheritance from a family member, it’s only natural to want to protect it.
Marital property is everything you and your spouse accumulated during the course of your marriage. In general, non-marital property is anything you had before you got married. But an inheritance can be an exception. The key will be looking at how you handled your inheritance after you received it.
If you did put your inheritance into a joint account the entire $150,000 is now considered marital property. By placing the money in the joint account, you legally gave your spouse shared ownership of the money.
What if you didn’t invest the inheritance, but spent it? What if you used it to pay marital debts, or to make repairs on your home? What if you even used the inheritance to buy the marital home?
These complexities are the reason why you should always choose a good divorce attorney to help you navigate the many pitfalls of the process. If you haven’t chosen one yet, call our offices today. We’ll schedule a free consultation where you can walk us through your personal situation and get some answers.