Divorce and Inherited Property
Divorce can have far-reaching financial implications, especially when it comes to considering inheritance. A lot of confusion exists over what happens to property or assets you have inherited during your marriage.
The division of assets is often a complicated issue in divorce proceedings. Many people believe inherited money or property should not be considered when it comes to divorce. That’s because an inheritance usually originates from one spouse’s own family or loved ones.
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Inherited assets during the marriage
Money or property you have inherited are not automatically excluded from the jointly owned matrimonial assets. There are several factors that the court will take into consideration, such as the size of the inheritance, when you received the property, length of marriage, how it was allocated or used during marriage and the financial needs of the parties.
Can I protect my inherited assets?
The ring-fencing of inherited assets away from the matrimonial pot is more likely if the inherited assets have been kept separate and are not required to meet the parties’ needs on divorce. Upon divorce, a financial settlement will help protect you from any future claims your ex-spouse may make if you inherit property or further assets down the line.
If you have a pre or post-nuptial agreement, then this is a good way to protect your inheritance amongst other assets.
If you or your spouse have recently inherited and you are considering separating, it is vital that you seek advice on your legal options from a specialist divorce solicitor.
The courts will look at the facts of each case to determine whether or not to split inheritance as part of a divorce settlement.
Contact our Family Law Solicitors
The right solicitor changes everything. Anglo Law Solicitors provides expert legal advice on family law and divorce proceedings.
Speak directly to a Family solicitor now on 020 3753 4667 or complete our online contact form for your free consultation.
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* “The court have a wide discretion when deciding what orders to make in relation to financial proceedings. In exercising their discretion, the court will take into full account the specific facts of the particular case in question. The court are guided by Section 25 criteria laid down by the Matrimonial Causes Act 1973. In deciding how the family assets are redistributed between divorcing couples or determining what happens to income generating assets, the court will always make reference to the guidelines of Section 25. Each case presented to the court is ultimately adjudicated on its own merits and the needs of any dependant children will always be the court’s main priority”.