I am due to receive an inheritance, is there anything that I should know since I am in the middle of a divorce proceeding?
New York, NY divorce attorney, Ken Jewell talks about some key things to know when you are due for an inheritance and also in the middle of a divorce proceeding.
Email: [email protected]
Phone: (212) 856-7273
In New York, inheritance is separate property regardless of whether or not a marriage has occurred. The problem arises when the inheritance has the other spouse’s name put on it. If the inheritance has the other spouse’s name on it, then it becomes a marital asset or a gift to the marriage. Because the intent by the person inheriting the property was to share it with the person who did not directly inherit it.
So what you want to consider is always keeping inheritance in your own name so that this way it never becomes a question as to whether or not it becomes a part of the marriage or whether it remains your separate property.