Is Your Inheritance Marital Property?
Whether your inheritance will be considered marital property in your divorce will depend on the specifics of your case. Inheritance can be a complicated factor in Connecticut divorces, and you should always discuss this matter with an experienced divorce lawyer.
Property And Connecticut Courts
In Connecticut, the courts recognize marital property and separate property. Marital property is that property that you accumulated together during your marriage, including money and real estate. Under Connecticut’s Equitable Distribution Law, spouses share this marital property and must divide it equitably in a divorce. Equitably means that the property will be divided equally in a divorce, but that it will be divided fairly in the eyes of the law.
Separate property, on the other hand, is the property that one of you owned before you were married, and this property is usually exempt from the Equitable Distribution Law. If one of you obtained certain properties during your marriage – such as an inheritance or gift – but kept it entirely separate from your familial finances, it might also be considered separate property.
Does your inheritance qualify as separate property? The answer often depends on how you’ve used it. Inheritance is typically identified as separate property, but there’s a catch – if you intermingled your inheritance with your marital finances, Connecticut will most likely consider that inheritance to be marital property that qualifies for division between both of you. Once this intermingling occurs, there’s not a lot you can do to change it back. Every divorce, however, is unique, and the circumstances of yours may allow for some level of legal remedy that an experienced Connecticut divorce attorney can be identified.
If you’re considering divorce and are also set to inherit, proceed with caution. Consult with a divorce lawyer who will help you make decisions now that will protect your inheritance upon divorce.
While a post-divorce inheritance will likely be considered your property, there are exceptions. If your ex-spouse, for example, didn’t pursue a retirement account because of reliance upon your future inheritance, you may be on the hook to share a portion of this inheritance.
Your inheritance probably feels personal. After all, it was personally bequeathed to you by a loved one. Having to split this personal belonging during the stress of divorce can be exceptionally painful. To make matters worse, it’s legally complicated. You can best help your situation by seeking help from a skilled divorce attorney with extensive experience handling inheritances. Your rights, your assets and your financial future are too important to leave to chance.
Contact A Skilled Connecticut Divorce Lawyer For More Information Today
An inheritance can be an especially difficult property to divide in a divorce. At the LAW OFFICES OF PIAZZA & SIMMONS, LLC, in Stamford, Connecticut, we have the compassion and the experience to help you get every inheritance penny to which you’re legally entitled. We’ll fight for your case’s most efficient and advantageous resolution. Give our divorce attorneys a call today at 203-936-6772 or contact us online.