Are you hoping to get paid back on commingled inheritance after divorce? Saratoga divorce attorney Jean Mahserjian explains what you should expect.
Will I get commingled inheritance back?
If you received an inheritance during the marriage, that money was separate property when you received it. Whether you will get it back depends on how you handled the money and what you used it for. If you put those funds into a joint account and used them to pay family bills, you’re not getting any of it back. The legal theory here would be that you have thus contributed those funds and gifted those funds to the marital estate. If you put the funds into a bank account that is in just your name, you will get those funds back. If you use some of the funds for marital expenses, you may not get them back, even if the funds came out of an account in just your name. To make a deliberation, the court will look at what you spent the money on.
If you put the money into a marital residence such as a mortgage, you have a much higher likelihood of receiving some of those funds back. If you used it for a vacation or for the children’s expenses, you are not going to receive a credit for those funds at the time of divorce.
Are you or a loved one dealing with the end of a marriage and have questions about commingled inheritance? Contact our experienced Saratoga divorce attorneys at Jean Mahserjian, Esq., PC today to schedule a confidential consultation and case evaluation. Let our experience work for you.
Like Us on Facebook