Will My Inheritance Be Divided in a Florida Divorce?
There are many issues to address when you file for divorce. One of the most disputed issues to resolve is the division of marital property. Spouses often cannot agree on how to divide marital property. They may argue that they are entitled to a larger share of marital property, or disputes may arise regarding what assets are marital property and which are classified as separate.
When one spouse receives an inheritance during the marriage, it can make property division even more complex. One spouse may believe they are entitled to a portion of their partner’s inheritance, while the other may believe it is unfair to award them a portion of their loved one’s estate. So, are inheritances divided in divorce? Below, one of our Tampa asset and debt attorneys explains in further detail.
Is Your Spouse Entitled to Your Inheritance?
Under state law, your spouse is not entitled to any portion of your inheritance unless there is a binding agreement in place that states otherwise.
For example, if you drafted a premarital agreement prior to your marriage and included a provision that gave your spouse a portion of your inheritance, they would be entitled to that amount or percentage. Or, you may agree to give your spouse a portion of your inheritance post-divorce and your settlement agreement may reflect those terms.
Essentially, unless you have given specific permission for your spouse to receive a portion of your inheritance, they do not have any automatic rights over it.
Marital vs. Separate Property in Divorce
In a Florida divorce case, only marital property is subject to division. Marital property refers to any assets or liabilities accumulated by the couple during the marriage. This property is subject to equitable distribution, which means the property is divided fairly, but not necessarily equally.
Separate property is not subject to division in a Florida divorce. There are different types of assets classified as separate property and they include:
- Gifts received from someone other than the spouse
- Any property that one spouse owned prior to the marriage
- Inheritances
When are Inheritances Subject to Division?
To protect your inheritance from division, you must keep it separate from marital property. If you commingle your inheritance with marital property, it may no longer be considered separate property and as such, be subject to division. There are many ways people commingle their inheritance. The most common are as follows:
- Placing your inheritance into a joint bank account
- Using your name and your spouse’s name on the title of an inherited asset, such as a home
- Using marital funds to repair or maintain an inherited assets, such as a home inherited from your parents
Our Asset and Debt Lawyers in Tampa Can Protect Your Rights
When going through a divorce, you need a Tampa asset and debt lawyers who can protect your rights. At All Family Law Group, P.A., our experienced attorney can advise on the property that is subject to division and help you identify your goals so you can secure the property that is most important to you. Call us now at 813-672-1900 or fill out our online form to schedule a free consultation and to get the legal advice you need. Se Habla Espanol.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
