Distribution of home given to us by my father and an inheritance given my wife by her mother upon her death,alsosavings

Asked about 2 years ago - Valparaiso, FL

I am a 30% disabled veteran and also collecting SSDI.Upon divorce how are the home, inheritance and retirement funds likely to be distributed? All were obtained during our 32 year marraige. There are no minor children involved.

Attorney answers (2)

  1. Adam Troy Rauman

    Contributor Level 14

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    Answered . This is a question better answered by a family law attorney. Once you retain an attorney and begin the divorce process, your questions as to how property is to be divided will be addressed.

    In general, assets obtained and earnings accumulated during marriage are marital assets and therefore are divided accordingly (maybe 50/50 depending on your agreement). Any inheritance that is received during marriage does not become marital property unless it is commingled with marital assets. In other words, if you did not put your wife on the title of the home you received from your father's estate, it would remain yours after the divorce. The same could be said for your wife's inherited assets, if she maintained them in a separate account they would remain hers and not be subject to the divorce decree.

    Please note, what I just stated is very general and basic with regards to asset distribution. There are ways in which your separately inherited assets become subject to a divorce decree; commingling assets, using joint assets to pay the mortgage, or home improvements just to name a few. Your attorneys will address the issue of assets as the divorce proceeding progress. If your and your wife's inherited assets are roughly the same value, and it is important to each of you to maintain them individually regardless of what may have take place during the marriage, you can agree to make them individual in the divorce decree.

    This answer is provided for informational purposes only, does not constitute legal advice, and does not create an... more
  2. Marcos P Martinez

    Contributor Level 13

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    Answered . I agree with Attorney Rauman. Since you were married for 32 years, it would be common/likely that such assets have become mingled. Moreover, I tagged this with "Divorce" and "Family Law" to allow for family/divorce attorneys to weight in.

    marcos@martinezanda.com Office tel: (561)245-4723 Website: www.martinezanda.com. The answer provided does not... more

Related Topics

Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

Inheritance and divorce

If you are seeking to retain possession of an inheritance during a divorce, certain rules apply for whether you can keep the entire amount.

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