Offering Murfreesboro Clients an Unrivaled Understanding of Inheritance Issues in High-Net Worth Divorce
Kidwell, South, Beasley and Haley is known statewide for our extensive expertise handling high-asset divorce cases
At one point or another throughout their lives, many individuals receive an inheritance from a loved one who has passed away. It is not uncommon for members of a high-asset family to receive significant inheritance during a marriage. These assets all too often are at issue when these families divorce. And, these assets can be an especially sensitive topic given the sentimental value associated with money and gifts from deceased loved ones.
The high-net worth divorce team at Kidwell, South, Beasley and Haley routinely handles these difficult issues with sensitivity and professionalism. Families in Murfreesboro and beyond trust us to expertly represent their interests and protect assets passed down from their loved ones.
Counseling clients in how inheritance fits within the marital estate
Under Tennessee divorce laws, property acquired by either spouse during the marriage is subject to an equitable division. The law, therefore, makes a distinction between marital property and separate property. Generally speaking, inheritance is considered separate property and can include:
- Stocks or bonds
- Jewelry or clothing
- Art collections
- Family heirlooms
- Houses or condominiums
- Interest in a business
Owing to more than 40 years of high-asset divorce experience, the attorneys at Kidwell, South, Beasley and Haley can expertly identify all inherited assets and property, for an accurate assessment of a client’s separate estate.
Is my spouse entitled to a portion of my inheritance?
While property acquired through inheritance is presumed to be separate property, this determination is often more complicated. There are numerous ways in which separate property can become marital property. For example, income from inherited assets or an increase in value of those assets may be considered marital property. Additionally, if your spouse substantially contributed to preserving or increasing the value of your inheritance, these assets may be considered marital property. The court can consider this notion of substantial contribution broadly. It is important, therefore, to have a divorce attorney skilled in the unique issues that inheritance raises.
Discuss your divorce situation with a Kidwell, South, Beasley and Haley divorce attorney today
Call 615-893-1331 or contact us online to schedule a free initial consultation. During this conversation we can explore your case and craft solutions for safeguarding your inheritance.