Inheritance


#1

From elsewhere on this site:

“The definition of separate property is found in section 50-20(b)(2) of the North Carolina General Statutes – all real and personal property acquired before marriage, or property acquired during the marriage by bequest, devise, descent or gift. Professional and business licenses which would terminate on transfer are expressly defined to be separate property, as is any increase in value to separate property and income derived from such property. …”

My reading of that says that the money/property left to her by her fathers death is not marital and will not be concidered during ED.

jnewman


#2

Thank you for your input. It would seem that you are correct. One less thing to worry about.


#3

Dear Allanj:

Greetings. Inheritances are separate and therefore not counted as marital property. Thank you.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#4

My wife and I are separated at this time, I left at the end of December. My question pertains to money received as an inheritance. Her father died the first of December and my wife was named in the will. She is to receive 1/4 of the assets of the estate. They are in the process of selling off some property and she has already received some cash from the split of his checking and savings.

When we file for divorce does this count as part of our property that is to be divided?

Thanks,

Allanj