You may be devastated when a loved one so very close to you sadly passes on. This time of mourning may be all the more depressing if it is soon followed by the news that your spouse wants to divorce you. With this, you may be worried you may lose the inheritance you just received in your upcoming divorce proceedings. Well, read on to discover whether your inheritance will be protected from a divorce and how a seasoned Bergen County equitable distribution attorney at McNerney & McAuliffe can fight hard to keep it in your possession.
Will my inheritance be protected in the event of a divorce?
The New Jersey family court will likely consider your inheritance a piece of separate property. That is, separate property is categorized as property you obtained prior to your marriage or outside of your marriage. Therefore, the court will likely not incorporate your inheritance into their equitable distribution processing. Here, your labeled marital property may be assigned fairly and justly between you and your spouse. However, you must understand that there are rare circumstances in which the court will subject your inheritance to this distribution. Examples are as follows:
- You used your inheritance to purchase a piece of marital property during your marriage.
- You used your inheritance to pay off a marital debt incurred during your marriage.
- You deposited your inheritance into a joint bank account you share with your spouse.
- You inherited property in your name but later added your spouse’s name to the title.
What other separate property can I keep in a divorce?
Besides your inheritance, you may possess other separate property that you must do everything in your power to keep in your divorce. This means that, during your marriage, you must not commingle your separate property with your marital property. Without further ado, below are examples of separate property you must fight for:
- Any assets that were already in your possession prior to your marriage.
- The gifts given directly to you by another party who was not your spouse.
- Your real estate properties and automobiles titled solely in your name.
- Your retirement accounts and other financial investments named solely in your name.
- The financial compensation you received as the plaintiff of a successful personal injury claim.
- The furniture, artwork, collectibles, jewelry, and other personal property purchased with the funds in your separate bank account.
In your divorce case proceedings, you may need to produce a lot of proof that this separate property indeed belongs to you and only you. With that being said, please contact a competent Bergen County family law attorney to gain the emotional and legal support you require during this pivotal time. Our team at McNerney & McAuliffe looks forward to helping you.
