If you are going through a divorce, you most likely have a lot of questions and concerns over how marital property will be split between you and your spouse. Dividing inheritance in a divorce is a common topic we discuss during your free consultation. Contact our office today to learn more.
Dividing Inheritance in a Divorce | Is It Protected?
If you’re here, you might be considering divorce in New Jersey and you might have recently been a beneficiary of inheritance. In New Jersey, under the divorce laws, inheritance is not subject to equitable distribution and is not attachable by the spouse unless you put that inheritance into a joint account or otherwise used the inheritance that you received into your marriage. In order to protect your inheritance, keep it separate.
Dividing Inheritance in a Divorce | Marital Property
If you’re here, you’re probably considering divorce in New Jersey. One of the questions that you might have is, “What is marital property?” In its simplest term, marital property is anything that was acquired by you and the spouse during the marriage. However, it’s important to note that not all things fit within marital property. For instance, if you had assets before your marriage, a house from a prior marriage, that would not be considered marital property and would not be subject to equitable distribution and division to your other spouse.
Likewise, if you were in the divorce process or were still married had obtained an inheritance, that would not be considered marital property either. Those types of properties are separate. Generally speaking, if it was earned by either spouse during the marriage, it is likely marital property. If it was acquired prior to the marriage or acquired by way of inheritance, generally it will not be marital property.
Are you or a loved one thinking about leaving a marriage and have questions about how marital property is divided in New Jersey? Contact New Jersey divorce lawyer Bart W. Lombardo for a free confidential consultation and case evaluation. Let our experience work for you.