When your marriage has dissolved and you’re in the middle of a divorce, a frequent point of contention is the division of your debts and assets. It’s a necessary evil as part of the divorce process.
But, when you’ve been left a sizable inheritance, you’re probably wondering whether your soon-to-be former spouse is entitled to half of it once your divorce is finalized. Read on to determine whether your inheritance will be considered marital property during the equitable distribution process.
Equitable Distribution and What it Means for Your Divorce
Indiana follows equitable distribution law, which basically states that the courts will divide all marital property equally in the event of a divorce. However, spouses can also contest these divisions under certain circumstances. In this case, it would be your inheritance. This money was left to you, after all, not your spouse.
The likelihood is that the judge will award your inheritance to you, particularly if you’ve only been married a short time. But, it’s important to note that this is not the law, and you shouldn’t expect the judge presiding over your case to award you your inheritance.
Having a Prenup or Postnup in Place Can Protect Your Inheritance
Although judges will likely grant your request to keep your inheritance in the divorce, it might be a good idea to consider a prenuptial agreement if you haven’t yet married, or a postnuptial agreement if you’re already married. This can ensure that your inheritance will be protected should your marriage come to an end.
Work with an Indiana Divorce Lawyer
When you need help securing your inheritance, or if you’re interested in implementing a pre- or postnup in your existing marriage, work with an Indiana divorce lawyer at Rowdy G. Williams Law Firm. You can reach our office to schedule your initial consultation by calling 1-812-232-7400 or visiting our website for more information.