Inheritance In An Illinois Divorce
Illinois is an equitable distribution divorce state. Under this legal structure, courts prioritize fairness instead of a perfectly equal division of marital assets. It is essential to understand what you are entitled to when divorcing, including potentially high-value assets like an inheritance.
At Blacha Law Office, LLC, you can count on our experience and commitment to your family. Founding attorney Monika Blacha and the rest of our team have decades of combined experience. We are focused on communication and education, and every client gets one-on-one attention. Call us in Joliet or Naperville for a free consultation.
Is My Spouse Entitled To My Inheritance In Illinois?
Possibly. Both spouses have a right to marital property. Generally, this includes wages and other assets earned during your marriage. If your inheritance counts as marital property, you may need to divide it with your ex.
When Is Inheritance Marital Property In Illinois?
Generally speaking, inherited property – like a house or a financial account – is not considered marital property to begin with. If it was given directly to one person by their family member, it is a gift and qualifies as separate property.
However, if you mix or mingle your inheritance with joint assets, it may become marital property. For a home, an example would be re-titling the house to include your spouse. An example of a financial gift is blending financial assets together, such as depositing the inheritance in a shared bank account or using it to buy jointly owned assets.
How Do I Protect My Inheritance From Divorce?
There are steps you can take to protect an inheritance, such as using a prenuptial agreement or a postnuptial agreement. You can also keep assets separate, such as by storing money in personal bank accounts or using a trust. It is important to learn about your separate and marital property options – our lawyers can help you understand them.
Reach Out To Blacha Law Office, LLC
Our attorneys are eager to help with your divorce. Call us in Joliet or Naperville at 630-283-1987 or contact us online to schedule your free consultation with an experienced Illinois property division lawyer. Fluent in Polish.
