Divorce and Inheritance
Going through a divorce can be extremely difficult for a family. Even though many couples know it is the best option for them, there may still be some hostility in the divorce proceedings. This is especially likely when the discussion turns to the division of assets. Financial issues can turn any divorce proceedings into a vicious and confrontational battle. Monies or assets gained by inheritance are often the subject of much dispute.
If you are considering divorce, it is highly advisable to consult with a qualified divorce attorney regarding your case. Dealing with division of property and assets can be frustrating, and the Raleigh divorce lawyers of Marshall & Taylor P.C., may be able to help to ease the process. Contact us today at 919-833-1040 to schedule a confidential consultation.
Factors Affecting the Division of Inheritance
In divorce proceedings, property may be regarded as either separately or jointly owned. Separate property is anything the spouse acquired before marriage and cannot be divided between the two spouses. No matter when you received your inheritance, it is almost always considered separate property. However, there are exceptions to the rule. Inheritance can be considered community property for the following reasons:
- If you receive property in inheritance and you and your spouse equally invest money to increase the value of the property.
- If an inheritance was received in the form of cash, bonds, or other similar resources which were then deposited into a joint bank account.
- If the non-inheriting spouse assists in paying the inheritance tax, he or she may be eligible to receive a portion of the inheritance.
- If the inheritor allows his or her spouse to use the money regularly.
There are many factors affecting your inheritance and your divorce, so it is wise to speak to a compassionate attorney to see what options you may have in this situation.
To protect your inheritance or to secure the portion of your spouse’s inheritance that is rightfully yours, contact the Raleigh divorce lawyers of Marshall & Taylor P.C., at 919-833-1040 to discuss your legal options today.