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.
Estate Planning Attorney
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 attorney-client relationship. Florida Attorney practicing in areas of Estate Planning, Elder Law, Trusts, Probate, Guardianship, and Business Law. www.ferraezlucas.com The information provided is for educational purposes and not intended to provide legal advice or to create an attorney client relationship. Please contact me at firstname.lastname@example.org or call my office should you like to discuss your Florida legal matter further. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
Estate Planning Attorney
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.
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