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How an inheritance may be handled during divorce, asset division

When loved one's pass on they often have assets that may become property of their loved ones. This is what is known as an inheritance - some people have been the benefactors of an inheritance over the term of their marriage. Many decide to put the money away, and may have even put it in a separate account. How is this asset handled when you and your spouse are filing for divorce?

Since inheritances often come from family members, many divorcing spouses may feel that an inheritance is subject to the property of one spouse or the other. But the reality is that it depends. For example, let's say a woman's mother left her all her remaining assets and that they were taken over by her daughter and her daughter's spouse during the term of their marriage. Many wonder what will happen to the assets during the divorce process?

The daughter may feel that she is entitled to the entire inheritance, but the son-in-law may feel differently. The question is, who is entitled? The answer is that it depends on the specific situation of the couple, and Florida state law. It may or may not be up for equitable division of assets, like the majority of marital property depending on how the inheritance was saved like under a joint-bank account for instance.

Naturally, everyone wants their share of assets a married couple may accumulate during their years of marriage. Sometimes inheritances are carefully crafted by the original owner and are written under contract that may or may not implicitly state what happens to an inheritance in case of a divorce. These clauses may or may not be valid contract clauses that affect the outcome of an inheritance during a divorce.

Source: family.findlaw.com, "Inheritance and Divorce," Accessed February 13, 2017

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