A wooden gavel rests on a sound block beside a brass balance scale, emblematic of a criminal defense lawyer's arsenal. These items, surrounded by books and papers, symbolize law and justice. The softly blurred background evokes the ambiance of a courtroom or legal office setting.

How Is Inheritance Factored Into Property Division

Property division is one of the biggest factors for divorcing couples. It is important that you know your legal rights and what assets are considered joint within the marriage. It is common for one spouse to acquire property or funds through inheritance. For example, when the family member of one spouse passes away, that person might make prior arrangements to leave a portion of their assets to one spouse — not the couple. This is property obtained during the marriage and, depending on actions taken when the inheritance was received, these assets may or may not be rightfully claimed by both individuals in the event of a divorce.

Federal law classifies inheritances as property belonging to the individual by whom it was received, but some common, simple actions void that immunity, such as depositing the money into a joint checking or savings account. New Jersey laws ultimately dictate what is and is not considered joint property. Generally speaking, any asset that was used to benefit joint endeavors may be subject to division during a divorce. This is known as commingling.

These rules also apply to wealth or inheritance that was acquired before marriage. Some individuals may deposit inheritance into a joint account without the intentions of sharing funds. Though you often are burdened to collect a high level of proof in these cases, it can be demonstrated that the property belonged to a sole individual. The advice of an experienced attorney can be very beneficial in these complex property division situations.

Get to know Townsend Tomaio & Newmark
Play Button
video thumbnail
What Are The First Steps in Getting a Divorce in New Jersey? | NJ Divorce and Family Law Attorneys
Play Button
video thumbnail
How Do Courts Decide on Custody? | NJ Divorce and Family Law Attorneys
Play Button
video thumbnail
Is Mediation Cheaper Than a Litigated Divorce? | NJ Divorce and Family Law Attorneys
Play Button
video thumbnail
How Child Support is calculated | NJ Divorce and Family Law Attorneys
Play Button
video thumbnail
Determining Alimony | NJ Divorce and Family Law Attorneys
Play Button
video thumbnail
How Can I Prevent My Spouse From Moving With My Child Out of State? | NJ Family Law Attorneys
Play Button
video thumbnail
Final Restraining Order | NJ Divorce and Family Law Attorneys
View More videos
In Our Community
Logo for Community Soup Kitchen and Outreach Center Inc. featuring a stylized orange soup bowl with steam. Text reads: Logo of the Randolph Education Foundation (REF) featuring an open book with stylized pages, symbolizing knowledge and guidance, next to the text The logo of Mayo Performing Arts Center showcases a purple stylized Logo of JBWS with two overlapping hands, featuring the text Logo for Interfaith Food Pantry Serving Morris County, featuring a red apple icon on the left, symbolizing nourishment and community support akin to how family law attorneys provide guidance in strengthening family foundations.Logo for CASA of Middlesex County, Inc. It features a blue figure with a heart overhead, symbolizing care and protection, and the text “Court Appointed Special Advocates for Children” below. Perfectly aligning with the mission similar to Family Law Attorneys in safeguarding children's rights.
Website Designed & Managed by
Accel Marketing Solutions