Rolling Meadows Division of Gifts and Inheritance Divorce Lawyers
When getting a divorce, everything needs to be divided whether it is your money, property, assets,investments and debts. During your marriage when you were given a gift, this would be considered separate property, which means you don’t have to divide it when you get divorced. Commingling, however, can become part of your marital estate, under certain circumstances such as inherited property. In order to avoid having to share an inheritance is to keep it separate from your marital property throughout your entire marriage. If you did not separate your inheritance from your marriage and are in the middle of a divorce, an inheritance division lawyer from Cosley Law will be able to help you sort out these issues.
If you have a decent amount of considerable assets that you would like to protect, let a lawyer at Cosley Law know. Our lawyer’s experience could be a critical factor in protecting your assets and financial interests. If your significant other has assets that you feel you have the rights to our inheritance lawyerswill fight for your rights in a court of law. We understand that there are many lawyers to choose from, but what sets us apart from the rest is that we have honest, trustworthy lawyers helping our clients that are looking out for their best interests.
How Is Commingling Avoided?
Each of our lawyers is specifically trained to handle cases that not other lawyers have the ability to do. Our success rate is so high because of the skills that we have acquired and the way we approach each of our cases. We encourage our clients that the best way to keep property separate is to keep it titled solely in the name of the receiving spouse or in an account accessible only to that spouse.
When an inheritance is placed in co-ownership, the property has to be commingled which means it will have to be split up in the event of a divorce. Co-ownership includes joint checking accounts, property deeds, car titles or brokerages accounts. All of these would be considered marital property, not separate property. Once an item becomes marital property it is forced to division during divorce.
Wondering if Your Spouse's Inheritance Is Subject to Division?
If you feel like your spouse is keeping an inheritance from you but you believe it to be commingled, it is important to contact an inheritance lawyer from Cosley Law. If you are able to provide the paperwork stating that the inheritance was indeed a marital asset, this will entitle you to a share of the property.
Learn How to Protect Inheritances and Gifts in Divorce
For over 20 years we have represented families and couples in the Rolling Meadows, Illinois area with issues involving, child custody, child support, divorce, separation, visitation rights, marital debt, prenuptial and postnuptial agreements. If you are having issues with any of these, contact Cosley Law inheritance lawyers for more information.