Generally, when a married person receives an inheritance, it is his or her separate property. Inherited money or property is excluded from the definition of marital property, which includes nearly anything either spouse acquires during the marriage. Inheritances are treated a bit differently under the law when it comes time to divide marital assets. When your family member or loved one chose to leave you an inheritance, she clearly meant for you to be the one to benefit from her gift. Otherwise, she would have named both you and your spouse in her will or trust. However, parts of your inheritance can become marital property if you commingle those assets with your marital funds. If you are getting divorced, a Naperville, IL divorce attorney can help you take steps to protect your personal inheritance.
What Counts as an Inheritance?
Your inheritance can include anything you receive by gift, legacy, or descent. This includes: