During a divorce, couples often argue over whether an inheritance received by one spouse is to be included in the assets and property to be divided. As a rule, inheritances or gifts received by one spouse are excluded from the property division calculation used when spouses separate and divorce. Be aware that the inheritance or gift must not be treated as matrimonial property or placed into a joint account, as this will create complex accounting issues in your joint finances which will be difficult to unravel to prove the ownership of the inheritance or gift. At the time of the divorce, the inheritance or gift must still be in existence, whether this is in the form of a physical object, or non-tangible property such as stocks and shares. Upon receipt of inheritance or a gift, unless a spouse wishes for it to form part of the matrimonial property, a spouse … Read More