Property obtained by one partner as a present or bequest usually earlier than or throughout a wedding could be topic to division in a divorce continuing. The remedy of such belongings relies upon closely on jurisdiction-specific legal guidelines and the diploma to which the asset has been commingled with marital property. For instance, if funds inherited by one partner are saved in a separate account and never used for joint bills, they’re extra more likely to be thought-about separate property and never topic to division. Nevertheless, if these funds are used to buy a household residence or are deposited right into a joint account, their standing can develop into extra advanced.
The disposition of those belongings in a dissolution motion is critical as a result of it might vastly impression the monetary consequence for each events. Traditionally, many jurisdictions adhered strictly to the idea of separate property, shielding inheritances from division. Nevertheless, trendy approaches typically take into account equitable distribution, which means that equity and want play a bigger position. Elements such because the size of the wedding, the contributions of every partner (each monetary and non-financial), and the long run incomes potential of every partner can all affect a courtroom’s determination relating to how these belongings are allotted.
