Protecting Your Family's Future
 

I’ve Inherited Money During Our Marriage. Do I Have to Split that If I Divorce?

You will not have to split money that is inherited with anyone except Uncle Sam. That is the case whether or not you divorce. The money you inherit is yours. It is not considered marital property.

If, however, you have signed that money over to your spouse, or placed that money in a joint bank account, the money then becomes marital property. So, it is wise to keep inherited money separate if you are anticipating a divorce.

The inheritance and any gift given to you alone for that matter, is yours and yours alone. Community property is everything that a husband and a wife own together. Community property would include such objects and assets and earnings that were acquired during the marriage. These would include a business and a house, regardless of who purchased it and whose name it is in. This would also include al debts that are contracted during the marriage.

Separate property includes inheritances and gifts received during the marriage, anything that was owned by one spouse before the marriage began, and anything either spouse had earned after the couple separated.

Divorce, Property and Inheritance Division Questions? Family Law Attorney, Baytown, Texas

Stewart Law, PLLC, located in Baytown, Texas, provides legal counsel to individuals involved in support and custody matters, divorce, and other family law cases. If you have questions about keeping an inheritance that you were given during your marriage, property division, divorce, or any other family law matter, we can give you advice that will help you decide how to proceed. For an initial assessment and consultation, contact our family law firm online or call our office at (281) 420-8020, at a reduced fee of $50.

 
Stewart Law PLLC