Is Your Inheritance at Risk During a Divorce?
If you live in California and are planning a divorce, you may have heard that California is a “Community Divorce” state. Simply put, that means each spouse is entitled to half of all the income and assets acquired during your marriage.
What happens if you recently inherited a million dollars from your parents after they passed away and then your spouse suddenly announces that they want a divorce? Will you be forced to give your soon-to-be ex $500,000 of your parents’ life savings?
There are some exceptions to the Community Divorce laws in California, and one of them is inheritances. Whatever money or assets you inherit directly is yours to keep. Your spouse cannot come after it in a divorce unless the inheritance was bequeathed to you both.
If you live in Temecula and have more questions about who is entitled to what during a divorce, contact the attorneys at Albrecht & Albrecht for a free consultation.