Inheritance and Divorce Attorney in Melbourne, FL
How Is Inheritance Handled in Divorce?Divorce is a difficult and often emotional process, especially when it involves division of property and inheritance issues, which is why having an inheritance and divorce attorney in Melbourne, FL on your side is essential. It is important to understand the laws surrounding inheritance and divorce, as they can have a significant impact on the outcome of a divorce settlement. At Figueroa Law Group, P.A., we are well-versed in inheritance and divorce laws in Florida and are dedicated to helping our clients navigate this complex legal landscape. If you or someone you know is going through a divorce and has concerns about how inheritance may be treated in the settlement, schedule an initial consultation with our Florida family law attorneys today and let us help you achieve the best possible outcome in your case.
Overview of Florida’s Inheritance and Divorce LawsInheritance refers to the assets that an individual bequeaths to their loved ones after they pass away. Inheritance laws in Florida determine how property that is passed down after the death of a loved one is treated in the event of a divorce. An inheritance and divorce attorney in Melbourne, FL can help you navigate the state laws. In a divorce, property division can be a contentious issue, especially when it comes to high-value assets or property that has sentimental value. Each state’s divorce laws will govern how to address inheritance, in community property states and equitable distribution states as well. Florida’s divorce laws follow an “equitable distribution” model, which means that marital property is divided in a way that is fair and just, but not necessarily equal.
What is the Difference Between a Separate Property and a Marital Property?Depending on where you live, inheritance can be considered either as a separate property or marital property. A Melbourne inheritance and divorce lawyer can help you determine whether your assets are considered separate or marital property. As a general rule, marital property is subject to division between the spouses while a separate property isn’t. Separate property, or non-marital property, includes:
- Assets that either spouse owned before the marriage
- Inheritance and gifts
- Property listed as separate in a prenuptial or postnuptial agreement
When Does Inherited Separate Property Turn Into Marital Property?Even when an inheritance is initially considered separate property, you can convert it into marital property. There are certain circumstances in which an inheritance may be subject to division. If you’re concerned about losing your inheritance in a divorce, our inheritance and divorce attorney in Melbourne, FL can help. A big issue that can come up with inheritances is commingling. Separate property can become marital property if it is commingled or mixed with marital assets. If the inheritance becomes marital property it will be subject to division upon divorce. Any inheritance you receive is often considered a separate property. However, if you use the inheritance to buy a marital home or other marital assets, the inheritance can become marital property. Sometimes the best way to safeguard pre-marital assets is to enter into a prenuptial agreement. A prenuptial agreement (prenup) is a binding contract that can often override state divorce law on many issues. It provides the couple with an opportunity to settle in advance how an inheritance will be treated in the future, including if a divorce occurs. If such an agreement is in place, the terms of the agreement will generally dictate how property is divided.
Why Do I Need an Inheritance and Divorce Attorney in Melbourne, FL?Divorce can lead to a great deal of confusion. You may be unsure about your financial future as well as how the end of a marriage will impact your children. Whether you’re the beneficiary of an inheritance before the divorce or you’re concerned about your children’s inheritance after the divorce, our Melbourne inheritance and divorce lawyers at Figueroa Law Group, P.A. can protect your rights and interests. Here are some reasons why you may need an inheritance and divorce attorney in Florida:
- In-Depth Knowledge of Inheritance and Divorce Laws: We can help you navigate the legal system and make informed decisions that will affect your financial future.
- Asset Protection: We can help you understand how your inheritance is classified and what steps you can take to protect it.
- Court Representation: If your divorce case goes to court, we can represent you, argue on your behalf, and present evidence that supports your case.
- Emotional Support: We understand that divorce and inheritance cases can be emotionally draining, which is why we are here to provide you with emotional support and guidance.