An inheritance is a gift that a person receives from a cherished family member or friend. An inheritance is a special amount of money that a person receives because their loved one wanted them to have it after they passed away. In a Peoria divorce situation, an inheritance can be one complication of the property division portion of a divorce settlement.
Typically, a person’s inheritance is considered separation property and the person who received it will continue to own it. This gets more complicated when an inheritance is comingled with marital property. This can happen if the inheritance is deposited into a joint account or if a person inherited property that both spouses live in. In these situations, a spouse can claim that the inheritance was used for the good of the family and is now a joint asset.
If a person is going through a divorce it can be a good idea to have a skilled attorney on their side. An attorney understands that a divorce is a stressful and emotional situation, but it is important to keep sight of what is important. An attorney can help their client negotiate a fair divorce settlement that protects their rights and their future.
There can be many complications in a divorce, especially with the asset distribution segment. It can be difficult to understand what qualifies as separate property and marital property and it can be necessary to have an attorney negotiate on their client’s behalf. An attorney will always keep their client’s best interest in the forefront of everything they do and make sure they emerge from the divorce ready to begin their new life.
In a divorce, dividing up comingled property can be complicated. An attorney can help their client protect their rights and their assets in a divorce.