When you receive an inheritance, you likely want it to stay within your family, and not become a point of contention in a divorce. While Illinois law generally considers inheritances to be separate property, the reality is more complicated, especially if those assets become intertwined with marital finances. A prenuptial agreement can help ensure that your inheritance remains protected, but how enforceable is it?
The answer depends on various factors like state laws and how the agreement is structured. With careful planning and guidance from an Illinois family law attorney, a prenup can provide peace of mind during marriage, clarity in divorce settlements, and protection of your financial future.
How Does a Prenuptial Agreement Protect an Inheritance?
Under Illinois law, inheritance is normally categorized as separate property, meaning it cannot be divided in a divorce. However, inherited assets can become marital property if they are commingled with shared finances. For example, if inherited money is deposited into a joint bank account or used to purchase a home in both spouses’ names, it is considered shared property.