When a couple divorces, they will need to address and settle various issues, including the division of marital property. In many cases, couples are deeply opinionated about what they deserve, which can make property division a difficult issue to resolve. One thing you may be concerned about is whether your spouse is entitled to your inheritance during a divorce. Please continue reading to learn how Massachusetts handles property distribution during a divorce and why connecting with a knowledgeable Bristol County Division of Assets and Debts Lawyer is in your best interest.
How Does Massachusetts Divide Property During a Divorce?
When a couple decides to dissolve their marriage, they will need to address the issue of property division. Generally, two types of property in a divorce: marital and separate assets. Joint or marital property is anything that was accumulated by either party during the marriage, whereas separate property is assets owned before the union or obtained in marriage through certain means.
In Massachusetts, the courts follow the principle of equitable distribution, which means any assets or debts acquired during the marriage will be divided fairly, but not necessarily equally. Essentially, all marital assets are subject to distribution. The court aims to divide assets in a just manner, considering numerous factors, rather than simply splitting them down the middle. However, it’s important to understand that separate property is generally not subject to division during a divorce. Each spouse is entitled to keep their separate property.
Is My Spouse Entitled to My Inheritance?
Whether or not you are entitled to keep your inheritance depends on several factors. If you have received an inheritance while married, it will likely be considered separate property. Despite acquiring the asset during your marriage, if it was given to you in your name only, the inheritance will be considered separate property. As such, it will not be subject to division when you and your spouse divorce.
Nevertheless, an inheritance can be subject to division if you fail to keep these assets separate from your other marital property. When marital and separate property are mixed, it becomes joint property. This means if you put your inheritance in a shared bank account, it will be considered marital property because it has been co-mingled with your marital assets. As such, you must take the necessary steps to avoid commingling funds. If you have not tied the knot yet, you should consider creating a prenuptial agreement that dictates your inheritance as separate property. This will ensure it’s not subject to division in the event of a divorce.
At The Law Offices of Cynthia L. Hanley, P.C., we are prepared to effectively represent your interests and safeguard your rights. Connect with our dedicated legal team today to learn how we can help you fight for your future.
