Have you inherited assets or money during your marriage and are concerned what will happen to them if you divorce?
It is a common view that inherited assets should not be shared with an ex-spouse however it is not always that simple. There are a number of factors to consider if this situation should arise.
When deciding how to divide the assets, legally, all wealth must be taken into account. However, inherited wealth is treated differently to other assets generated by a husband and wife during their marriage as the wealth is inherited rather than earned. Factors such as the source, nature and the way in which the inheritance was treated during the marriage are all taken into account.
You may be concerned that the inheritance will have to be used to ensure that both parties can be re-housed. Unfortunately, if housing needs for both the husband and wife can’t be met then there is a greater chance that the inheritance will have to be used to meet both needs.
With regards to the assets you have as a couple, these will also be considered. The more assets you have, the more likely your inheritance will be untouched. On the other hand, if your assets are not great enough to meet the needs of both husband and wife, there may be no other option but for the court to take the inherited monies into account.
Should you have any queries or require any advice in relation to the above, please do not hesitate to contact Stratford Solicitors on 01625 878204.
