Asset division can be stressful for divorcing spouses. Thankfully, a Boston divorce lawyer can help these spouses get a fair divorce agreement. Whether you need money or have to make spousal payments, you’re your attorney will protect your rights and make the divorce process as smooth as possible for you.
During a divorce, you may be worried about losing or sharing your inheritance to your soon-to-be ex. Often, you get inherited property or money through a legal document. Thus, you may think your inheritance cannot be touched when you create a divorce agreement. But you should not that this may not be always the case.
Is an Inheritance Marital or Separate Property?
Property in Boston is classified as marital and separate. Marital property is any property acquired by a couple during their marriage while separate property is anything acquired before their marriage.
Sometimes, a divorce agreement includes separate property, but the owner of the property before the marriage usually gets it. Thus, if a spouse gets the inheritance before marriage, they may avoid sharing it with their spouse. It is important to keep in mind that a divorce agreement does not include any inheritance a spouse gets in the future. Thus, any inheritance obtained during a marriage can complicate things.
When Can an Inheritance Be Included in Divorce Agreements?
As family courts distribute property, they follow equitable distribution. Thus, they will attempt to divide all property fairly between the two spouses. Thus, the spouse who brought an inheritance into the marriage may sometimes not get the property during their divorce. Division of inherited property is decided based on facts like the property’s manager during the marriage and if dividing it will create a more equal divorce agreement.
Some inheritances are quite complex, potentially including stocks, real estate, and business assets. In this case, you need an attorney who has extensive experience dealing with complex marital estates. Your attorney will concentrate on your priorities like protecting your inherited property or money.
If you and your soon-to-be ex have signed a prenuptial or postnuptial agreement to exclude inheritances from possible distribution, these agreements may have settled the problem in advance. Make sure to ask your divorce lawyer to review these agreements and ensure they can’t be overturned by a challenging party.
As you take into account all assets, understand the legal implications and what can be negotiated. A reliable lawyer can help you navigate this process without undue stress.
