How does inheritance affect divorce?
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How does inheritance affect divorce?
Generally, inheritances are not subject to equitable distribution because, by law, inheritances are not considered marital property. Instead, inheritances are treated as separate property belonging to the person who received the inheritance, and therefore may not be divided between the parties in a divorce.
Can gifts be taken back in a divorce?
Gifts to either spouse from a third party are considered separate property, again if they have not been commingled with marital assets. So far, so good. However, in divorce, disagreements often arise as to whether the sum in question was to be considered a gift or if it was in fact a loan.
Can surviving spouse change will?
Put simply, just because you and your partner make mirror Wills does not mean that your partner cannot change their Will (either before or after you die). Furthermore, your partner does not have an obligation to inform you if they do change their Will.
