Albany Divorce and Inheritance Lawyer

New York’s Domestic Relations Law generally considers inheritances and gifts as separate property not subject to division in a divorce. However, some circumstances may convert inherited assets into marital property that your spouse may claim. How inherited property was handled during the marriage may determine whether it remains separate property or a marital asset.

An experienced Albany divorce and inheritance lawyer may review the facts and help clarify any questions you have about protecting inherited property. When property disputes arise, a dedicated high-asset divorce lawyer may advocate on your behalf to protect your inheritance. Speaking with the knowledgeable legal team at The Colwell Law Group may help you navigate the process.

Are Inherited Assets Considered Separate Property in Divorce Cases?

As an equitable division state, New York requires divorcing spouses to divide marital property fairly, though not necessarily equally. Under New York Domestic Relations Law § 236, the Court will review all assets accumulated from the date of marriage and consider those assets marital property unless exceptions apply. For example, pre-nuptial agreements may designate certain assets as separate property. Inherited assets are another key exception to the marital property rule.

State law generally considers property a spouse inherits during marriage as their separate property. Divorce law also recognizes that an inheritance or gift designated to one individual should remain with that individual, regardless of their marital status. 

However, exceptions to this rule may also apply. If the spouses commingled inherited assets or converted them into marital property, the inheritance may lose its separate status during property division. If you have questions about the divorce process, including the classification of inherited assets, a knowledgeable Albany divorce attorney may help you review your options.

How To Protect Inherited Assets During a Divorce

Spouses may take steps to protect their inherited assets from division during a divorce. Some protective measures include:

• Maintaining separate accounts: Keep inherited funds or gifted money in accounts held solely in your name, free from marital funds and joint expenses, to help ensure these assets remain separate
• Maintaining clear records: Document the source of funds, when you received them, and how you have maintained them during the marriage to help prevent your spouse from claiming these assets as marital property
• Avoiding commingling: Because mixing inherited funds with marital funds can destroy their status as separate property, it is critical to keep a clear paper trail to identify where, how, and if inherited funds have been used
• Keeping inherited property titled in your name: If you inherit real estate or other titled assets and want to keep them separate, ensure they are titled solely under your name 

When a spouse claims inherited property is separate during a divorce, they bear the burden of proving that claim. Courts require clear and convincing evidence that inherited or gifted property remained separate during marriage. Following certain key steps can make it easier to protect your inherited assets. An experienced Albany lawyer may help you understand your full range of legal options when handling divorce and inheritance issues.

Contact an Albany Divorce and Inheritance Attorney Today

Equitable distribution in New York divorces generally requires treating all assets acquired during the marriage as marital property. Inherited assets and gifts are a key exception, but only when certain circumstances apply. If you have questions about inherited assets during a divorce, an Albany divorce and inheritance lawyer at The Colwell Law Group may explain your options and guide your next steps. Call us today to schedule your consultation.