Inheritance and possible divorce

[tootiefruitie6]

I wondered if anybody can give me some advice. I am due to inherit a large sum of money from a grandparent shortly. However my marriage is rocky and my husband can be quite aggressive and I am nervous in case we divorce and what it might mean for my inheritance as I would like to keep it safe and protected. Does anyone know if this is possible and how I would go about it? Or would he automatically be able to gain some of it should we divorce? Thank you.

If you divorce all the assets go into a pot to be divided according to your needs with the starting point being 50/50. If there is enough to house both of you without touching the inheritance you may keep some of it.

If you want out of the relationship you should get out now before you divorce.

I'm not a lawyer, this is based on my experience.

You may well be able to keep your inheritance separate as long as there are enough other marital assets to meet your husband's needs. Seek legal advice now on the best way of ringfencing it. I believe the safest way would be to keep it separate - ie don't pay it into the joint marital account, don't use it to pay the mortgage off etc.

www.divorce.co.uk/your-finances/inheritance

I agree with the previous poster. If you're married when you get your inheritance then it will go into the marital asset 'pot'.

I was married for 14 years, split 5, divorced 2 years ago. I this year inherited a big amount of money that I've bought a home outright for me and my family. My ex has come out the woodwork threatening to make a claim on it unless I sign some nonsense paper work for him. Until he remarries he can claim on anything of mine unless we come to an agreement and get it legally binding. I suggest you talk to someone and get some legal advice.

There are lots of sources online explaining it but you'd be better off getting tailored advice. www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2017/is-my-ex-spouse-entitled-to-my-inheritance/

This isn't necessarily true.

Thanks all. It sounds like there are mixed views on this. My husband earns double what I do and is financially fine. We have two young children and share a home with a mortgage for information purposes.

Where are you based OP?
I'm in Scotland and I was separated but not divorced last year when my Gran passed away and this was a concern for me.
I was told by solicitor that my ExDH couldn't claim any gift of inheritance that I received during the marriage. If I received it and say used the money and put it into the house/ matrimonial property then it has changed from my inheritance to part of the matrimonial assets/ pot and he could have. So inheritance wasn't to be part of the settlement/ division of matrimonial assets.

Definitely get legal advise for wherever you are.

If you had a consent order at the time of the divorce he wouldn’t have any claim on any assets of yours after the divorce.

Frankly I don’t understand why someone wouldn’t sort out the finances before divorce to avoid this kind of thing.

Could you put it in trust for the children? Regardless, you need to speak to someone official who'll give you the best advice.

Thanks all. I am based in Surrey. I don't envisage splitting and would actually ideally like to use atleast some of the money to extend our house but wondered for example if I would need some legally binding document showing I put more money into the property so that I could take it back should we divorce. I will perhaps need to get some advice. Thanks

Hmm, I think you would need legal advice quickly. If you are living together as husband and wife, anything either of you accrue during the relationship could be considered joint assets. I don't think it could be considered separate. See a solicitor.

The ‘nonsense paperwork’ will be a financial order. It’s a pain in the arse but it’s important, for exactly this reason. It should have been done at the time of your divorce.

It’s interesting as in NZ (where I trained as a solicitor) inheritance is NOT matrimonial property but it appears - though I haven’t checked - that the reverse assumption operates in England. I suggest you take legal advice before the money hits your account.

I don't think you can ring-fence an amount you put into the house OP.

Especially if you use it to improve the the primary residence. I doubt you'll be able to protect it, unless he agrees to it with some sort of post nup. One of our assets was an apartment that my ex owned before we met. That also went into the pot and the value split 50/50.

Has the person already died OP? I’m not 100% sure but I think there can be a way for them to put a clause in saying it is exclusively yours and not for the benefit of your husband, but a lawyer is definitely your best bet here.

Thanks so much all. I appreciate it. It's early days and I don't expect the money to arrive yet so I will take advice in the meantime.

You may be able to put the money into trust. Which is an administrative nightmare and there are all sorts of rules. It may be worth paying for some good legal advice.

Don't tell him about the inheritance and divorce him before it becomes available

Make sure the divorce has a 'financial settlement' so that he can't come after any inheritance.

OP I was in this exact position and took legal advice, I received the amount after we separated but before we do divorced, the advice was to keep the money completely separate to family finances, even then it wasn't guaranteed to be excluded just more likely, if it was used on the martial home it would become part of the settlement.

This.

OP, put the inheritance straight into an account in your name only and do not touch it. Don’t use a single penny for household or other purchases.

This will mean you can ringfence it if you divorce.

You need legal advice, if it is a big amount and you use it on the family house, it becomes family assets.
If you put it in a trust fund for your children's education, then it sort of changes things.
My female friend lost a lot of money due to the NEEDS part of a divorce and she actually had a prenup, it was ignored.