Question from Justin Abit, Am I Entitled to Inheritance Money if My Spouse Sells Property During Divorce?
Answer from AI:
When a spouse inherits property during a divorce, the financial implications can be complex. Here’s a general overview of what you might expect in such a situation:
Inheritance and Division of Property
- In most jurisdictions in the United States, inheritances are considered separate property and not subject to division in a divorce. This means that if your wife inherited real estate from a deceased relative, it is likely to be deemed her separate property.
- However, if the inherited property is commingled with marital assets or its value is increased through the investment of marital funds or effort, it could be partially considered marital property.
- If your wife sells the inherited real estate and the sale occurs during the divorce process, the proceeds from the sale may still be considered her separate property, unless there has been commingling.
Financial Restraining Orders
- A financial restraining order, often issued at the beginning of a divorce proceeding, is designed to prevent either spouse from making large purchases or significantly altering the couple’s financial status quo.
- If your wife is making large purchases in violation of a financial restraining order, you have options to address this issue:
- Document the Violations: Keep records of any transactions or purchases that violate the financial restraining order.
- Seek Legal Counsel: Consult with a divorce attorney to discuss the appropriate legal response, which may include filing a motion with the court.
- Enforcement: The court may enforce the order by holding your wife in contempt, which could result in penalties or a requirement to return the assets or their value to the marital estate.
- It’s important to consult with a divorce attorney who can provide personalized advice based on the specifics of your case and the laws of your state.
- An attorney can help you understand whether the proceeds from the sale of the inherited property might be subject to division in your divorce.
- Legal representation is also crucial in addressing violations of a financial restraining order and ensuring that your rights are protected.
For more information on divorce and property division, you can refer to the Legal Information Institute’s resources on divorce. It’s also advisable to review your state’s specific laws on inheritance and divorce, as these can vary significantly from one jurisdiction to another.
Remember, this information is a general guideline, and the outcome of your situation could be different based on the facts of your case and the laws in your state. Seeking legal advice from a professional is always the best course of action.