Property division in divorce can be incredibly complicated. If you’re getting a divorce, you might be worried about what will happen to your inheritance. Does it have to be divided during equitable division or can you keep it?
While Florida does divide property equitably, it only does so with marital assets. Marital assets and liabilities are property and debts that the couple acquired together during the course of the marriage. For example, real estate, loans, and cars are all marital property. However, non-marital assets and liabilities do not get split during equitable division.
Non-marital assets and liabilities include property and debts acquired by either spouse before the marriage. Likewise, an inheritance that was received during the marriage is considered non-marital property and will continue to belong to you after the divorce.
However, if you commingle your non-marital and marital assets, or use your non-marital assets for your spouse during the marriage, you risk accidentally converting your inheritance into marital assets. For example, if you place your inheritance in the same account that you and your spouse share, it is then considered marital property.
If you have an inheritance you wish to protect during the divorce, it is up to you to prove that the commingled asset shouldn’t be considered marital property. To do this, you will need the help of an experienced Clearwater divorce attorney. He or she can examine your case and give you advice on how to proceed with your divorce case. Contact K. Dean Kantaras, P.A. about your situation. Our highly rated firm is committed to helping people reach the solutions they need to work through a divorce, and we have more than 20 years of legal experience to offer your case. We are also led by a board certified family law specialist, which means he’s extremely qualified to handle your case with expertise. Let us provide you with knowledgeable, resolute representation in your case. Call us at (727) 939-6113 or fill out our online form to schedule a case consultation today.