Protecting an inheritance during a divorce can be crucial for keeping these assets separate from marital property, especially in states that follow equitable distribution, like Michigan. Here are several steps to help ensure your inheritance remains yours if you’re facing a divorce.

1. Keep Inheritance Separate from Marital Assets

The best way to protect an inheritance is to keep it separate from joint or marital accounts. If you deposit inherited money into a joint bank account or use it for shared expenses, it may become commingled with marital assets and be harder to protect in a divorce. Instead, keep inheritance funds in an account under your name alone and avoid mixing these funds with jointly owned accounts or property.

2. Avoid Using Inheritance for Marital Purchases

Using your inheritance to purchase a home, car, or other assets that will be shared with your spouse can put it at risk of becoming marital property. When inheritance funds are invested in marital assets, the court may view the inheritance as shared property. To keep it protected, use inherited funds only for personal or separate expenses, or for investments that remain solely in your name.

3. Document Inheritance Carefully

Clear documentation is key to protecting an inheritance. Save records of the inheritance, such as a will, trust documents, or other legal paperwork proving that it was intended for you alone. Detailed records showing the inheritance's original source and its separation from marital funds will strengthen your claim to keep it as separate property.

4. Consider a Prenuptial or Postnuptial Agreement

If you’re planning a marriage or are already married, consider drafting a prenuptial or postnuptial agreement to protect an inheritance. These agreements can specifically outline that any inheritance will remain separate property, which helps safeguard it in the event of a divorce.

5. Seek Legal Guidance

A family law attorney can help ensure your inheritance is well protected by guiding you on how to keep it separate and advising on state-specific rules. With careful planning, you can preserve your inheritance and protect it from division during divorce proceedings.

At Richards Family Law, we understand that navigating divorce and child custody matters can be overwhelming and emotionally challenging. Our dedicated team of experienced attorneys is committed to providing you with the best legal advice tailored to your unique situation. We prioritize your family's well-being and work diligently to ensure your rights are protected throughout the process. From negotiating fair settlements to advocating for your children’s best interests, we are here to guide you every step of the way. Trust Richards Family Law to deliver compassionate support and expert legal representation as you move forward to a brighter future.