As you go through a divorce, you expect to keep the inheritance you received from a parent or other relative. It was clearly a gift given just to you. You know that they would want you to keep it so that the money stays in the family.
However, you received that inheritance while you were still married. As such, your spouse claims that it’s a marital asset and that you have to divide it with them. Who is right?
Was the inheritance commingled?
Although every case is unique, an inheritance is generally treated as a separate asset. Even if you were married when you received the inheritance, if it was designated to go to you, then it should remain with you through the divorce. If it was left to both you and your spouse jointly, then it would be considered a marital asset and legally you would need to divide it..
Additionally, commingling the inheritance after you receive it can turn it into a marital asset. For example, perhaps you put the inheritance in your shared bank account or a joint investment account. Maybe you and your spouse used the inheritance to jointly purchase a significant asset, like a vacation home. These actions commingle the funds, meaning they become a marital asset. Since the money is no longer solely owned by you, you would have to divide it with your spouse unless the two of you reach a different agreement.
Navigating your divorce case
As you can imagine, you and your spouse may not see eye to eye on the status of the inheritance. If there’s a dispute, it’s important to have experienced legal guidance to protect your rights.
