If you received an inheritance before or during your marriage and are getting divorced in Ohio, have a Columbus divorce attorney advise you, represent you, and protect your inheritance in your divorce proceeding.
When couples divorce in Ohio, a dispute may emerge if one spouse claims part of an inheritance the other spouse received during the marriage. Does one spouse have the right to a portion of the other spouse’s inheritance?
What if the inheritance commingled with marital funds? Can you protect an inheritance during a divorce? If you received an inheritance and are divorcing, you must also have personalized advice from a Columbus divorce lawyer.
How Are Assets Divided in Ohio Divorces?
Ohio is an equitable distribution state for property division in a divorce. The court will divide marital property, including properties and assets obtained by either spouse during the marriage, fairly and equitably.
Unlike a community property state, courts in an equitable distribution state may not always split marital properties and assets evenly, but the division must be fair and equitable. In most cases, an Ohio court divides marital property approximately fifty-fifty.
In Ohio, an inheritance received by only one spouse, before or during the marriage, is not usually classified as marital. Typically, it will remain the separate property of the inheriting spouse.
Can a Divorcing Couple Divide Their Own Property?
If you don’t want a judge to divide your property, you and your spouse may prepare, in writing, an agreement that divides the property and resolves any related concerns. A divorce is quicker and less costly when spouses find ways to agree and compromise.
If your written property agreement is fair to both parties and complies with Ohio law, a court will probably sign off on it. Some divorcing spouses in Ohio privately negotiate a property division agreement by pursuing mediation.
Unless divorcing spouses prepare a property division agreement, a postnuptial agreement, or a prenuptial agreement, an Ohio court will split the marital property according to Ohio law, which usually means (approximately) a fifty-fifty split.
What Happens When You Commingle Funds?
Separate assets and properties brought into your marriage, along with any personal gifts or inheritances you receive during the marriage, are categorized in Ohio as separate property, but that categorization can change.
Mixing or commingling marital funds with an inheritance may change the way Ohio law categorizes the inheritance. A court may determine that your separate assets can no longer be separated or identified and are now marital assets.
If your inheritance goes into a joint bank account for marital expenses, it may lose its separate property status. Similarly, if you use inheritance funds to improve the primary marital residence, they may be characterized as marital funds.
How Are Assets Identified as Marital or Separate Assets?
In an Ohio divorce, if you ask the court to determine that a commingled asset is your separate property, you and your Ohio divorce lawyer will have to prove your claim, and your spouse will not be required to demonstrate that the commingled asset is marital.
The law in Ohio presumes commingled assets are marital unless one spouse proves otherwise. Under state law, property “that cannot be directly traced to a non-marital source” is classified as marital.
Whether you contend that a commingled or disputed asset is marital property or your own separate property, you must be advised and represented by a Columbus divorce attorney with substantial experience in divorce-related property disputes.
Do You Have a Prenuptial or Postnuptial Agreement?
Prenuptial agreements are legal documents that couples about to marry should prepare with the help of one or more attorneys. A “prenup” can specifically protect each partner’s separate property in case of divorce.
If you’re already married, you and your spouse may instead create a postnuptial agreement that protects each partner’s separate property, including any inheritances or gifts that either partner may receive during the marriage.
In Ohio, both spouses must sign a prenuptial or postnuptial agreement in writing. Before the signing, each spouse must fully disclose all assets, property, and debts to the other unless one spouse waives the right to that information.
In a divorce, if one spouse contests the agreement, the court will try to find if there was duress or fraud, if either party failed to disclose debts or assets, or if the document does not comply with Ohio law. In some divorces, a court may decide it cannot enforce the agreement.
What Else Should Divorcing Spouses Know?
Your financial disclosure helps the court divide property by giving the court a presumably accurate picture of each partner’s financial circumstances. Your Columbus divorce lawyer will help you with the legal paperwork.
Honesty is the key to a quick, smooth, and less costly divorce. Any effort to hide assets, failure to disclose income, or other dishonesty makes the divorce process more expensive, lengthier, and more difficult.
When you prepare in advance for a divorce, and when a reliable Ohio divorce lawyer represents and advises you, your lawyer will strive to ensure that you keep your inheritances and whatever else is rightly yours.
Property questions are only one part of a divorce. Your lawyer should have substantial experience with every facet of a divorce proceeding. Divorce is always challenging, so you must have the legal representation you will need from the beginning.
Lawrence Law Office Will Fight for What is Yours
In Central Ohio, as soon as you know you will be seeking a divorce, obtain the advice and legal representation you need from the Lawrence Law Office.
With over six decades of combined experience, attorneys Rodd S. Lawrence and Linda J. Lawrence handle divorces, custody and child support disputes, and alimony cases, and we provide estate planning services. We have substantial experience resolving family law disputes.
When you become our client at the Lawrence Law Office, we will answer your questions and address your concerns about inheritances and divorce. To learn more about your rights in an Ohio divorce, schedule your first consultation with our legal team by calling 614-362-9396.
