Property acquired by one partner as a present or bequest sometimes earlier than or throughout a wedding could be topic to division in a divorce continuing. The remedy of such property relies upon closely on jurisdiction-specific legal guidelines and the diploma to which the asset has been commingled with marital property. For instance, if funds inherited by one partner are stored in a separate account and never used for joint bills, they’re extra prone to be thought of separate property and never topic to division. Nevertheless, if these funds are used to buy a household house or are deposited right into a joint account, their standing can turn into extra complicated.
The disposition of those property in a dissolution motion is critical as a result of it may well significantly influence the monetary final result for each events. Traditionally, many jurisdictions adhered strictly to the idea of separate property, shielding inheritances from division. Nevertheless, fashionable approaches typically contemplate equitable distribution, that means that equity and wish play a bigger function. Components such because the size of the wedding, the contributions of every partner (each monetary and non-financial), and the longer term incomes potential of every partner can all affect a courtroom’s choice relating to how these property are allotted.
