Inheritances may affect property division in Kentucky
When contemplating divorce, individuals may have many concerns they wish to address before filing. Some individuals may be particularly interested in how they will be affected by property division. Because Kentucky is an equitable distribution state, assets will go through division in a fair — but not necessarily equal — manner.
One woman in another state who is currently considering divorce faces such concerns. Her husband has reportedly been having an affair, and she intends to seek a divorce as a result. However, due to her father-in-law’s death, her husband recently inherited $3 million. The woman wonders what her claim to that money could be in the event of their potentially inevitable divorce. Due to the state’s property division laws, she might be entitled to a portion of the inheritance.
Though the money will likely not be divided right down the middle, the woman may be able to argue that difficulties in the marriage, such as her husband’s infidelity and raising five children, could entitle her to a certain amount of the assets. However, if the inheritance is not commingled with other funds, there is a chance that her husband could keep it as separate property not subject to division. Therefore, the woman may wish to ensure that she gains reliable information on her options.
Kentucky residents who are facing similar concerns may also do well to find out additional information. Experienced attorneys may be able to explain state laws and property division proceedings in an understandable manner. Additionally, legal professionals may also be able to help interested parties work on their strategies for reaching their related goals.
Source: marketwatch.com, “My cheating husband just inherited $3 million from his father’s estate — should I still divorce him?“, Quentin Fottrell, Oct. 19, 2016