Posted by Attorney Bruce Watson –
Your family’s property, and your inheritance, could become your spouses if things sour, so plan ahead. Pre-nuptial agreements don’t need to cause a rift if handled properly. The article below outlines things quite nicely.
How to Keep Your Inheritance in a Divorce
Strategies Include Saving Documentation and Maintaining Separate Accounts
By Neil Parmar
For the happily wed, marriage is often about sharing everything—including generous gifts bestowed by parents or grandparents.
But when a relationship ends in divorce, that perspective can change dramatically. At that point, however, it may be too late to keep inherited assets such as vacation homes, rare collections and other gifts away from a former partner, even if those assets were never intended to go to that person.
What is considered separate versus marital property can vary, depending on the state in which a couples lives. So-called kitchen-sink states such as Vermont, Michigan, Massachusetts and Connecticut, for example, don’t typically distinguish between separate and marital property.
Read the entire article