An inheritance can have great emotional value for a person when the inherited goods come from a family member. Naturally, if such an asset becomes the subject of a dispute during a divorce, arguments can get heated.
Every state has its own set of laws regarding divorce, so it’s very important to know them well before pleading your case in front of the court. Because every divorce case is unique and holds information about intricate life-stories of at least two people, the court carefully analyzes each situation before they give a final verdict.
Property division in Missouri is done equitably between spouses after it is settled what is marital and nonmarital property. In a divorce, only the marital property is split, meaning goods and money that were not co-mingled.
The key thing to getting the whole inheritance or splitting it with your spouse is how you used it after getting it. If you have kept it in a separate, personal account and did not invest it in common property which will be classified as marital in the divorce, your inheritance will generally stay with you.
However, if you put that inheritance in a joint account and/or used it to buy marital property, like a house on both of your names, let’s say, it may be split in between you and your spouse.
In Missouri, the court only has the power to divide what is marital property between the spouses. But there’s an important catch: all property is considered marital until one of the spouses demonstrates otherwise. In other words, you need to provide documentation for any money or assets that you consider to be yours exclusively.
Because the cases when inheritances are kept exclusively in a personal account are relatively rare, you need to understand more about commingled property. This happens when you use inherited money and invest it in marital property. In Missouri, marital property is defined when both commingling and intent are present, but the only sure way to keep your inheritance personal is to just keep it in a separate account.
It may seem like everything is clear and simple, but the truth of the matter is that each case brings something new to the table, and the court often takes its time to evaluate the equity condition thoroughly. If you worry about having to split your inheritance during your divorce, the best option is to talk to an experienced St. Louis family law attorney and see what you should expect. That way you can plan accordingly and make an informed decision. Give us a call today at (314) 801-8488 .
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