Inheritance and Gift Law in Georgia Divorce
An eminent divorce brings up a lot of issues and concerns in the spouses thoughts. Oftentimes, a divorcing couple will want to know what happens in the division of assets, especially when gifts and inheritance are concerned. This is a worry when a spouse may have inherited a family heirloom or if a spouse received a sizeable amount of money from an inheritance. The spouse will want to keep control of those assets, because they have family significance. If you have a family heirloom you want to keep possession of through divorce, it is important that seek the counsel of an experienced family law or divorce attorney who will be able to represent your best interests. The divorce and family law attorneys at Bushnell & Drye, LLC have a record of getting people what is rightfully theirs and are able to use their resources to aid you too. To schedule a consultation with us, call (404) 869-1201 or submit an online information form.
Non-Marital and Marital Property in Atlanta
If you have an issue about inheritance and gifts in a divorce, you will undoubtedly hear about martial and non-marital property. It is important that you learn the difference of these terms, as they have an enormous impact on how an assets will be divided in your divorce. Non-marital property distinctly belongs to one spouse and is characterized by one or more of the following:
- The property was owned prior to the finalization of your current marriage or after the upcoming divorce is finalized
- The property was inherited or gifted from a member of your family
- The property was gifted from a third party
- The property has been designated as separate through a pre or post-nuptial agreement
If the property does not meet one of these conditions, then it is considered martial property and is subjected to division. The Georgia family court will determine what a “fair” division of the marital property is through a number of different factors they will apply to your situation.
Inheritance and Gifts in Your Divorce
If your inheritance or gift is clearly defined as non-marital property and is documented to show this, there should be no issue of keeping the property through your divorce. However, if the inheritance or gift becomes “co-mingled” with marital property then your spouse may be able to question the true ownership of the property during the divorce proceedings. This usually happens if a spouse inherits or is gifted a large sum of money that they then deposit into a joint account. This may also occur if the family home was inherited by one spouse or was gifted to a spouse. If you have property that was inherited by or gifted to you, then you should contact a divorce or family law attorney immediately to make sure that you retain what is rightfully yours.
Contact a Georgia Divorce Attorney
If you have non-marital property that you want to protect in a pending divorce, then you should contact an attorney as soon as possible. Our legal team will be able to understand your financial goals and be able to represent your interests in court. Contact Bushnell & Drye today for a consultation to learn more about your legal options in divorce.