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Does my husband have a share in my inheritance? By Moskowitz Law Group, LLC | November 10, 2020

Is My Spouse Entitled To My Inheritance

Marital property is property owned jointly by a husband and wife during their marriage. New Jersey is an equitable distribution state, not a community property state. Therefore, under New Jersey law, inheritance is considered separate property rather than marital property. This means that the husband is not entitled to it unless it is converted into marital property, usually by commingling.

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If inherited property is commingled with marital property, it loses the protection of separate property. Mixing means that inheritance is mixed with money or wealth. If you live in a Commonwealth country, your spouse is entitled to half of your inheritance if it is deposited into a joint account. However, if you live in an equitable distribution state like New Jersey, your spouse will still have inheritance rights, but not necessarily half.

If the inheritance is property rather than money, non-monetary contributions from the spouse may no longer protect the property. For example, if you inherit a house and your spouse helped improve the condition of the house, it may no longer be considered separate property. The court will consider the effort your spouse has put into repairing the home to determine whether it is separate property. The best course of action to keep the property separate is to not include her husband in the repairs, or to pay someone else to repair the property without using her marital money.

One of the best ways to protect your inheritance is a prenuptial agreement. This is a contract that couples can sign before marriage to address various financial issues. This document can be drafted to apply only to the inheritance so that other assets in the inheritance relationship are not subject to the contract. Premarital sex is a powerful way to protect your husband’s inheritance.

Spouses are not automatically entitled to inheritance, and inherited property may be legally protected. However, your spouse may have a claim to the inheritance depending on its status as separate or marital property. If you have questions about how to separate inherited property from marital assets, contact an experienced attorney today.

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No aspect of this advertisement has been approved by the New Jersey Supreme Court. The information on this website is for general information purposes only. Nothing on this site should be considered legal or tax advice for any particular case or situation. This information is not intended to create, and receipt or viewing does not create, an attorney-client relationship. Send to Us Confidential information will not be treated until an attorney-client relationship is established. Results may vary depending on the specific facts and legal circumstances. Inherited property is considered separate property and does not need to be shared with your spouse. However, if you want to ensure that your inherited assets remain separate, you should follow guidelines on how to store and use inherited funds.

Inheritance can result in a sudden and significant gift of money, property, or other assets. It can also pose a dilemma. If I receive inherited property, should I share it with my spouse? Laws may vary by state, but generally remain the same. But if you want to make an inheritance your own, you first need to understand the legal, procedural, and emotional implications.

In most states, inheritances are considered separate property, regardless of whether you received them before, during, or after the marriage. Your spouse has no right to use or spend your separate property. And in the case of divorce, separate property is usually not divided between spouses. It remains the sole property of the individual who owns it.

Rather, marital property belongs to both spouses, often through joint or community ownership. This may include money earned during the marriage, real estate you own, joint property, or other assets you purchased or held together. State laws vary on how much marital property is divided, but as a general rule, marital property belongs to both parties and is divided (in some form) between the spouses upon divorce.

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Legacy funds are considered separate property if they are held in a separate account in your name only. To keep your inherited property separate, it cannot be mixed with your marital property.

If you receive an inheritance check and deposit it into a joint checking account, you may accidentally “convert” the funds into community property, even if you plan to move the money to another account later.

It’s easy to accidentally mix inherited assets and community funds, so if it’s important to you to keep your finances separate, it’s best to seek advice from a lawyer or financial advisor. A professional can advise you on how to open and maintain your own account or trust and point out any pitfalls to avoid based on your country’s laws.

Keeping your inheritance separate is especially important if you think you’re on the verge of divorce, or if you want to use your inheritance as a lifeline to escape domestic violence or financial abuse.

Is A Spouse Entitled To Inheritance Money In Divorce?

Generally, when ownership is transferred to community property, the inheritance becomes marital property. Common causes for this to occur include:

There are various types of inherited property that can be received after divorce. If there is more money to be paid, child support or spousal support may need to be adjusted. This scenario is most likely to occur if you are currently paying less than the recommended support level due to insufficient income.

If you are determined to keep your inherited assets separate from your marital assets, you can proactively clarify your intentions by drafting a prenuptial or postnuptial agreement. Registering also gives you the opportunity to discuss your future plans with your spouse and create a roadmap for keeping your assets separate should you actually receive an inheritance.

Although you may have the right to keep your estate separate from your spouse, you are not required to do so. Inherited funds can be used to upgrade the family home, travel, pay off joint debts, or add to the family’s investment portfolio. If you want to use your inheritance for your family without worrying about how your assets will be divided in the event of divorce, go for it.

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You still want to talk to your spouse about your plans and expectations and theirs. If you share an inheritance with your spouse, do you have the same expectations when it comes to inheriting money or property? Is there anything specific you want to do with the money, like buying a boat, traveling, or renovating your kitchen? Do you have any? Do you intend to use part of your inheritance for yourself? What does your partner think about money? Having this conversation early can avoid any awkwardness or hurt feelings in the future.

Beyond the legal, consider the emotional weight of sharing (or refusing to share) your inheritance with your spouse and family. If you can do this, a shared legacy can create generational wealth, improve your family’s financial situation, and create lifelong memories together.

Only you know whether it is best to divide the estate or to separate it. If you decide you would like to divide your estate, or would like further advice on the process, please consult an objective financial advisor or attorney who can guide you through your options and explain in detail how to achieve your goals. Please consider.

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