WHAT HAPPENS TO YOUR INHERITANCE IF YOU ARE GETTING DIVORCED IN VIRGINIA?

A common topic of conversation with clients at The Hopkins Law Firm is about inheritance and divorce. Experienced family lawyer and estate lawyer Michelle Hopkins answers the three most commonly asked questions about this topic in her latest blog.

If I Receive An Inheritance During The Process Of My Divorce, Does My Spouse Receive A Portion?

If the inheritance is monetary and placed in a joint account, used for joint marital purposes, you may not be able to recover the full portion during your divorce. “The key to keeping the funds of an inheritance solely for yourself is not to comingle it with marital funds,” says Michelle Hopkins. This means it should be deposited into a bank account held in your sole name, and it should not be used for a purpose that could be deemed joint or marital, such as for purchasing new furniture or funding repairs to the marital home.

If I Receive An Inheritance During My Marriage, Can I Recover It During My Divorce?

Parties in a long-term marriage (long-term being in excess of ten years), who comingled all finances, are generally not able to recover inheritance or gifts received during the marriage unless their spouse agrees to it, or unless extenuating circumstances exist that would allow a lawyer to find significant leverage and of course, the ability to trace out the inherited funds.

If I Want To Bequeath A Gift To Someone Who May Be Divorced When I Pass, How Can I Keep It From Their Partner?

If you want to leave gifts to someone in your will but are concerned about the stability of their marriage and want to protect their gift from being taken by their partner, consider establishing a trust. “A trust is a way to maintain control past the grave,” says Michelle Hopkins.

You may also consider having a candid conversation with them if you are in a place in the relationship that would allow you to do so. You may wish to explain that your intent is for your gift to solely benefit them, and ask them to consider depositing the monetary gift in a separate bank account and not to comingle it with marital funds or to use it for marital purposes to protect themselves.

How Can The Hopkins Law Firm Help Me?

The Hopkins Law Firm lawyers Michelle Hopkins and Sydney Remaily offer family law, estate law and equine law services in Prince William County, Virginia, Fauquier County, Virginia, and surrounding areas. Please do not hesitate to contact their office today at 571-248-2210 or info@mhopkinslaw.com to schedule a consultation. Michelle Hopkins and her legal team are waiting to help you!