Who Gets The Inheritance?
In Missouri and Illinois, your inheritance is characterized as separate property and not subject to equitable distribution in the event of divorce. If, however, you commingled your inherited assets with your marital property, the total amount may be subject to equitable distribution as marital property. In other words, keeping your inheritance separate from marital property throughout the duration of your marriage is the only way to ensure it will remain part of your property settlement.
If you are an individual with high net worth who is considering divorce, your lawyer's experience will play a critical role in protecting your separate property rights and financial interests. Stange Law Firm, PC, can help you in these matters.
If you are considering divorce, one of your most important concerns should be on choosing a lawyer who will represent your interests. As you are probably already discovering, ending a marriage isn't simple or straightforward. Getting through the process with your financial interests and parenting rights protected takes hard work.
What If Your Spouse's Inheritance Became Part Of Your Marital Property?
Family law judges in Missouri and Illinois are careful to keep inheritance money separate from marital assets. If you are a non-titled spouse, however, you may be able to show that you and your spouse commingled separate assets with marital assets, resulting in appreciated value of the inherited amount. Transmutation of assets gives you the right to seek distribution of the amount characterized as marital property, as well as the current and future appreciation value.
Protect Your Inheritance. Contact Our Attorneys Today.
To speak to an experienced property division attorney, contact us online or by phone to schedule a confidential half-hour consultation. We have convenient locations throughout the area in the Midwest in cities such as St. Louis, Kansas City, Columbia, Springfield and beyond.