The person who inherits anything of monetary value would have actually done no work in bringing up or building the inherited property. It is more like a gift in the first case scenario (child inheriting from parents) and a forced payment to be made in the case of the second scenario (divorce payment). In the case of the second scenario, the huge question “is a spouse entitled to inheritance money?” will remain a conundrum.
Inheritance is when one person gets a share of an asset or property or any monetary item due to certain circumstances. Some of the examples of inheritance are a child inheriting the property of the parents or grandparents or when a spouse gets inheritance due to separation from their partner through a divorce.
Let’s discuss in detail about how a spouse would inherit the inheritance of their partner when a marriage ends in divorce. In a world where celebrities get married as a publicity stunt, one should be very wary of whom they marry and what they bring to a marriage.
This puts a lot of questions like “should inheritance be shared with spouse?”, “is a spouse entitled to inheritance money?”, “how to protect your inheritance money from your spouse?” etc. In the following paragraphs, we would be able to get answers to the above questions.
is a spouse entitled to inheritance money
Sharing of inheritance with a spouse conundrum
When there is a divorce, things usually go south really fast. One wrong move and all your inheritance would be taken away by the law. The inheritance will be separated and shared between the couple that is getting the divorce. This is very unfair in some cases. This is because, the spouse whose inheritance is being shared, might have inherited the property or asset from his/her family in which their inheriting partner would have made no fruitful contribution.
The above situation invokes the question, “is a spouse entitled to inheritance money?” The answer to this question depends mainly on the jurisdiction in which the divorce and divorce settlement takes place. In some places, the law states that a spouse is not entitled to any inheritance of their partner, whereas in some places, when a couple of files for divorce, half of the inheritance of one spouse will become the property of the other spouse as and when the divorce settlements are made.
Let’s take a particular place and see their laws regarding the inheritance being shared with a spouse. Let’s take California as an example and see how is a spouse entitled to inheritance money in California? California has a very updated law structure regarding inheritance and this makes the spouse not get any rights over any inherited property or money of their partner.
Inheritances are not considered as marital property when it comes to California Law. Marital properties are properties that are bought by couples after they get married and share the ownership of the said property. The straight forward answer to the question “is a spouse entitled to inheritance money in California?” is this – No, a spouse is not entitled to inheritance money in California.
Protection of inheritance money
Most of the laws state what is and what is not marital property. Some even explain the confusion like “is a spouse entitled to inheritance money” and “should inheritance be shared with spouse” in depth which makes the subject crystal clear. To know how to protect your inheritance from your spouse, you should have a thorough knowledge of what to do and what not to do, when it comes to the property that is being inherited.
There are certain situations that can make one’s inheritance to become marital property. One of the ways that an inherited property can become a marital property is when the person, who gets the inheritance, mixes the inherited property or money with marital property.
The other situation is when the spouse, who is not a party to the inheritance, puts effort and work or spend money to repair or redo the inherited property. In this case, the property becomes a marital property as the spouse can claim his/her share on the grounds of sweat equity.
Transmutation is another way, in which inherited property becomes marital property. By avoiding all the above situations, one can protect their inheritance from their spouse.
Alimony and divorce settlements
Alimony is nothing but support money paid by one spouse to the other. Inherited money after divorce can pay a huge role in inheritance and divorce settlement. The alimony and divorce settlements again rekindle the question, “is a spouse entitled to inheritance money?”
The inherited money after divorce can make a huge difference in the calculation of the alimony funds. This is because the inherited property may generate an income of its own, which can help the giving party to lessen his burden with respect to inheritance and divorce settlement.
Life with alimony and inheritance money
In the above discussions, we have addressed the one big question relating to the concept of inheritance, which is, “is a spouse entitled to inheritance money?”. Now let’s discuss the same from the receiving party’s perspective. The question in this perspective is, “can I claim my ex- husband’s inheritance?”
The answer for the same depends on whether the inherited property is separate or has been mingled with the marital property. The answer to the question “can I claim my ex-husband’s inheritance” is no in the former scenario (when inherited & marital properties are separate) and yes in the latter scenario (when both the properties are mingled).
Now that we have gained the answer to the question, “is a spouse entitled to inheritance money” let’s delve into people who have no inheritance or alimony to support their growing family. Due to the high unemployment rates, most of the people find it difficult to find employment.
The process is even more complex for an expecting mother. One of the big questions that expecting mothers have in their minds is, how to make money while pregnant and unemployed. Some of the ways are blogging, content creation, taking web surveys, etc. These options not only make women self-confident but financially independent as well.
Conclusion:
In conclusion, whether a spouse is entitled to inheritance money can be complex and depends on various factors, including the laws of the country or state where the inheritance is being received. In some cases, inheritance may be considered separate property and not subject to division in case of a divorce or separation. However, in other cases, it may be considered marital property and subject to division.
It’s important for individuals to understand the laws and regulations in their area and consult with legal professionals to ensure that their wishes are properly reflected in any estate planning documents. Ultimately, the best way to ensure that inheritance is handled in a way that aligns with personal wishes is to communicate openly and honestly with spouses, family members, and legal advisors.
Frequently Asked Questions:
Who will inherit Barbara Walters money?
It is not publicly known who will inherit Barbara Walters’ money. Her estate plan, including the beneficiaries of her assets, would likely be private and determined by legal documentation such as a will or trust.
How do I keep my ssi and inheritance money?
In the United States, if you are receiving Supplemental Security Income (SSI), an inheritance can affect your eligibility for benefits, as it is considered income and can result in a reduction or loss of benefits. To protect your SSI benefits while also receiving an inheritance, consider setting up a special needs trust or consulting with a qualified attorney to explore your options. Following the rules and regulations around SSI eligibility is important to avoid any penalties or overpayments.
Hello, my name is Idammah, and I am the founder of Wolfionaire.com, a personal development, and finance blog focused on motivation, success, and wealth. I am obsessed with studying the world's wealthiest individuals and learning about their path to success. I believe anyone can achieve their financial goals with the right mindset and strategies, and I hope to inspire and empower my readers to pursue their own path to success.
