Is an inheritance from my mother a marital asset?

[LucyLoo1972]

I am likely to be separating form my DH.

I am in the process of receiving an inheritance from my mother's estate which is substantial - around £250 K and a half share of a foreign property worth around another £150 K

I am unable to work because I ahd a psychotic break at least partly due to stress my DH out me under - ironically enough through not allowing me adequate access to finances and hoarding money and controlling spending. its a long story. I nearly died and I blame myself fro putting up with that shift when id come form poverty - we had no debts nad he hoarded £100 K in his current account.

Anyway - will my inheritance from my mum be split with him?

Seems like hes been pretty generous to you if you haven't worked in a decade and he pays your bills?

You urgently need competent legal advice - and focus on filing for divorce as quickly as possible. The longer you delay, the greater the chances of at least part of marital assets.

In the meantime, ensure that the inheritance is in you name and don’t mingle any of it with marital assets or use it to fund joint expenses.

You will have to declare it on Form E, but if the gap between inheriting and filing for divorce is brief, it may be disregarded altogether. But do talk to an experienced family solicitor as a matter of urgency.

You have had completely contradictory advice on this thread. You really need to see a lawyer (I’m glad to see that’s what you plan to do) and not rely on what has been said here, because half of it is wrong and you do not know which half. I could tell you that I have been through this so I know the answer: but you have no idea if that’s true. Please take independent advice (though I think in the interim you would be wise to keep separate any money you do get)

Inheritance isn't automatically assumed as a marital asset - it depends on what other assets there are. It could be split if there is deemed a need for it.

As long as it has always been in your sole name and stays in your sole name, then it is not counted as a marital asset.

This is crucial. It's worth paying for proper legal advice OP.

You'd be daft to give him access to this money when you can't work and you post frequently about how awful the relationship is.

Talk to a solicitor. Ringfence the inheritance if you can. Use it for your business idea or to live off or as a pension fund.

There's nothing to stop you giving him some later if it makes you feel better and have thought it through carefully, but don't just blindly give him a right or entitlement to it.

Divorce solicitor here. Generally inheritances can be ringfenced and treated as non-mat if not matrimonialised (i.e., intermingled with matrimonial finances such as used to pay off a mortgage or for joint expenses etc.)

However, if there are not enough matrimonial assets to meet needs, this could be taken into account. For example if 50/50 on the mat assets would mean your husband's needs are not met and you would have a surplus, he could get more of the mat assets.

Having said that, his greater income would also be taken into account, particularly as he will have a significant mortgage capacity and you won't have any.

As you can probably tell this can get quite complex so I'd suggest seeing a solicitor!

Discount any advice you've been given here and see a a solicitor asap.

What country do you live in?

Legal advice, legal advice, legal advice .......
It will be money well spent.

It maybe possible to ask the attorney’s of your DM’s will to either take as long as possible or, keep hold of your inheritance (somehow?), until it’s safe for you to accept it.
Defo speak with solicitors good luck.

That is incorrect. Inheritance is not normally considered a marital asset unless it is mingled with other assets of the marriage. It is not at all comparable with one spouse receiving a bonus.

To the OP, it would be well worth receiving legal advice on this so you know exactly what to do and how to manage this.

I’d get legal advice. Best case to keep it is to have divorce papers served before the estate finishes probate.

I love him with my whole heart.
Irrelevant.

You have to separate you head from your heart, and think only with your head.
From what you have said, he stashed away £100k, made your mental health so bad you haven't worked for 9 years, and is a hoarder so you can't stay living with him and recover your mental health.

Get divorced. Let the solicitors work out how to split the marital assets fairly, including the £100k he saved as well as the home, and his pension and yours.
They will advise about the inheritance.
You don't need to worry about it - let the professionals sort it all out.

Then when you are divorced, living in your own place, recovering your mental health, and getting your future secured (possibly by going back to work of some sort), then, and only then, you can think about how much you love him with your whole heart.
Not before then.

Does he not also have access to the money (or half of it at least) that he was hoarding to the point it made you unwell?

Remember he doesn't have to live in a £150k house - with a £150k deposit and a £70k income he could get a fairly decent mortgage.

My understanding is that in divorce the starting point of all matrimonial assets is a 50/50 split. However inheritance is not seen as a matrimonial asset if it has not been mingled with joint finances (e.g. used to buy or renovate a marital home etc).

However, family judges have the discretion to take it into account and overide the base law depending on circumstances such as when it was received and the financial position of each spouse.

In the situation you describe where there are substantial marital assets, you have only just received the inheritance, you are the one not working while your husband has a good salary, it is unlikely to split. It may however mean that you only get 50% of the marital assets and maybe less, if any, share of your husbands pension. However, a really good solicitor would be better placed to advise.

Was the money in your pension inherited or earned? There is a difference. Inheritance is a special category legally and in terms of taxation, and as already pointed out, how it is dealt with depends on what country or even part of the UK you are in.

That's not correct. Inheritances are generally not considered marital assets unless they are mingled with the joint finances or converted to be a joint asset. That applies in England and Wales and Scotland.

If it is used to buy the matrimonial home or pay off a joint mortgage or other joint debt it can become part of shared pot.

You need to speak to a lawyer.

When I filed for divorce, absolutely everything each of us had was pooled and split down the middle. This meant pots of savings I had squirreled away, bonuses I'd earned, and his pension - which he'd paid way more into than I had into mine.

Marriage is a legal contract.

im honestly most worried aobut the pension becasue I have very very little pension. I kept begging my DH to come ot a financial advisor so we could set one up for me. I was also begging him to make use of the tax benefits to add ot his pension becasue he is a higher rate tax payer. he doesnt really make nay effort at all to understand money.

it used ot really stress me out that he would have close ot £100 K in. acuurent account. from about the age of 10 I knew ot put my pocket money in a savings account.

a lot of that money has been spent now becasue I advent worked for nine years.

and yes he could get a mortgage. hes 53 tough and he got a CCJ wehn I was unwell becasue he had never paid a bill in his life becasue I did it all. it was only a £60 quid parking fine for heavens sake. but he just ignores anything. I was too unwell to do things at that point - it was in his name and he ignored the post.

id do anythign to help him. even though he refuses to put any of his hoard in storage so my MH may improve - my doctors have said I cant live in this environment and expect to recover.
I love him with my whole heart

OP I suggest you start with a little reading. Because this is absolutely my take from your posts.

Women Who Love Too Much: Amazon.co.uk: Norwood, Robin: 8601300074283: Books

This inheritance could be your route out.

You need to stop putting your future into the hands of a man who can't/won't even pay a parking fine

How a pension pot is dealt with is different from an inheritance.

Chirst, this is the worst advice i've ever heard on mumsnet.

I really am not sure my DH understand this actually.

his attitude to money is very bizarre becasue he wants it btu ownt spend it. he drives a £600 clapped out car and wont even buy a new pair of shoes unless they are falling off his feet. I saw him changing into trainers from his owrk shoes to get auto f the car and he says its becasue his hoes have holes in