Tuesday, December 22, 2009

If a spouse inherits money and property during the marriage is it joint property in Fl?

My friend is about to get a divorce, he has 3 separate inhertitances during the marriage. Is that considered finances of the marriage?If a spouse inherits money and property during the marriage is it joint property in Fl?
Florida is not a Community Property state, it is an Equitable Distribution state.

';Non-marital';(';non-marital';), or ';separate'; property, which usually is excluded from equitable distribution, includes things like:

* Property that was bought or acquired before the marriage, but note that sometimes property that was bought while the couple lived together with the plan to get married, will be treated marital property

* Property that was inherited by one spouse or was a gift to one spouse, even if the inheritance or gift was made during the marriage, but a gift to both spouses during the marriage usually be treated as marital property

* Property that the spouses agreed to exclude from marital property, such as in prenuptial (';antenuptial';) agreements

Sometimes, separate property can become marital property through ';commingling,'; which is when non-marital property is mixed together with marital property and the non-marital property becomes indistinguishable from the marital property. For example, when one spouse is gifted a sum of money and he or she deposits it into a bank account that is jointly owned by both spouses and the money is used for marital purposes, such as home improvements.

That being said, a judge ';could'; take the inheritances into account when dividing the marital property. If your friend co mingled the inheritances with marital money or accounts, then the money is no longer inheritance, it is now joint. Your friend should see an attorney.If a spouse inherits money and property during the marriage is it joint property in Fl?
In FL, property that is inherited is not automatically considered part of the marriage and is thus separate property. However, it can become joint property if, for instance, you inherit a home and sell your home and both of you move into the home, thus making it the marital home. Comingled monies also tend to become joint property.
If the state is comunity property then yes, anything recieved during the marrage belongs to both people, he will have to give up half of the current value.
It depends upon the laws in your state. somtimes, if the inheritance is in the form of stocks, then they are sole property of the heir and a spouse can't claim them.

however, every state is different. she needs to consult an attorney immediately.
If it's a 50/50 state, then she will get half.

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