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?

If you have filed for divorce (online is simple and far cheaper than a solicitor doing it for you) before the inheritance is paid then it will be very clear. Ideally delay receiving any money until you have at least started the process of the financials which is actually separate from the main divorce and legal advice is usually needed. The primary divorce process takes about 6 months so getting it underway is paramount before you start to deal with money

All these funds which you mention - savings and bonuses from earnings, and pensions - are marital assets.

Inheritance is different. It is not a marital asset except in exceptional circumstances or when mingled with the marital assets.

There are distinct legal and tax considerations in relation to inheritance.

I do agree with you that the OP must take legal advice.

It’s a lot of money to not have the correct information about. Hire legal representation asap.

I don’t think that is correct.
Get legal advice @LucyLoo1972

That doesn't apply to an inheritance unless it's mingled with or converted to a matrimonial asset.

well I see that now. becasue honestly why did I let myself get in this situation. irony of it is before I broke down our marriage was rock solid I think - I mean to say that for example I could have said - ive booked us an appointment with a fiancail advisor, I know you just want ot buy records and books in your spare time but tough - we need ot do this. its what adults do and it is stressing me out we lose so much money.

I think what is very sad is he would get agitated if I parked and paid for parking in town or bought something that wasnt in the sale but at the same tiem was losing thousands every year through poor financial management

If it is an asset that was brought into the marriage then that may well be correct. If it was inherited during the marriage, as is the case here (since the death occurred during the marriage) then as far as I know it would be taken into consideration, assuming the OP is subject to the England & Wales jurisdiction. Being taken into consideration does not necessarily mean it will be fully counted as a marital asset, but as so many others have said, legal advice is vital.

I know. its extreme

someone mentioned financial abuse - do people really think it is that rather than financial incompetence?

I am in touch with Women's Aid

I cant imagine how he will cope with even basic thigns never mind good finical planning if im not doing t. for him but honestly taking the load of everything and he not even cooperating if I booked appts etc was very very hard. I could cope iwth doing it but I couldnt force him to come to get financial advice. I never evr pestered him for anything ever.

It is certainly not a "wild take", that is generally the situation in England & Wales.

This follows from the 2010 case of Robson v Robson [2010] EWCA Civ 1171 which confirmed that inherited property is not automatically treated as matrimonial property, even if received during the marriage, and can be kept seperate.

It will depend on a number of factors, such as intermingling and how the money was used.

This can also be over ridden if the inherited asset is essential to meeting the needs of the other person after divorce (eg there isn't enough money to support two households).

He has let me spend some money but it all feels too late.

I basically went very angry once I could see I hadn't been able to buy nice things for myself so I bought myself some nice clothes.

but we still don have joint account and sometimes now im not working I have been left with no money in my account and had to borrow off friends - for example to buy fuel to get home form somewhere.

I know thats not right.

Can you initiate the split before you receive the inheritance ? That would simplify things, but as far as l’m aware from personal knowledge of a similar situation, no it’s not counted as a marital asset as long as it’s kept in an account in your sole name, and none of it is put in a joint account or used for joint purposes. Having said that, it’s important you get legal advice to properly protect it, as the legalities will depend on your location within the UK and also the financial circumstances of both partners after divorce.

I don't think this is correct unfortunately

well I have no income stream at all now.

it is difficult for us to sustain two households nad whatever happens things will be tight for both of us I guess.

we have never had a joint account during our marriage

Except keeping it in a separate account is very good advice… it might not be perfect, but putting it into a joint account, using it to fund joint bills or using it to pay off the mortgage would put OP in a much worse position.

There is precedent for inheritance kept separate from other marital funds not being treated as a marital asset. It’s not certain, but it’s pretty decent advice in terms of the action to take until OP speaks to a solicitor.

becasue we have never had a joint account all the bills have been paid out of my account and the mortgage from his. they are roughly the same amounts but I have alwasy been the lower earner by a very very long way. at one point I was on a PhD scholarship which was fantastic to get but was a small amount - around £12K tax free a year. it felt like winning the lottery as only around 1 in 300 applicants in my subject won one of those.

but no wonder I didnt have money to spend on things for myself becasue it all went on bills and food and fuel to get ot the uni

it's a marital asset. It doesn't matter whether you live in the arctic and he's in Patagonia. Until you are divorced, any money you come into he could have a share of.

OP, sorry if someone has said this already, but your concern over him living in a 150k place - he earns 70k, so he wont have to live in a 150k place, he would be able to get a mortgage on top of that and get somewhere for more money. You dont need to worry about him not living somewhere nice. Does he have money saved seperately from you still now?

His ex had an inheritance a few months before the divorce proceedings began, it was included as part of the overall financial picture which was divided in the financial settlement as determined by the judge (it has been a long process, mainly because she wanted more from him).

the bits I have received so far I have kept in my personal account and also invested in a couple fo pieces of contemporary art. (long story but I know what im doing ot make money in that domain).

it's a marital asset.

No it's not - not under English law if it has been kept as separate cash and not mingled with joint finances - that doesn't mean it can't be split, but as a starting point, an inheritance is absolutely NOT a marital asset

https://www.edwardsfamilylaw.co.uk/post/divorce-and-inheritance-what-happens-when-a-marriage-ends/

"In English law, inheritance is considered non-matrimonial property. This means:

Money inherited during marriage remains, in principle, separate property. It’s not automatically shared equally with your spouse on divorce. However, the English court has substantial discretion to override this presumption if they believe fairness requires it."

im just so sad im suicidal becsue its so unbearable and not just this.

yes I realise he can get a mortgage. although he has a ccj. I know if we divorce its not my problem any more.

the amount of distress this whole thing has caused me is so severe.

I went no contact with my abusive father after I broke down and he tried to break in to our house last week.

I d worked so hard ot make a beautful life and I pretty much lost everything. even my mum who died she died suddenly nad I never got chance ot say goodbye and she was devastated to see the change n me

Until you have spoken to a solicitor, just keep the cash in your own bank account or cash ISA - don't buy anything or spend it on anything in the house until you've had advice.

You don't want to accidentally use it on something that would then mean it is included as a marital asset.

You need to change your mindset and stop feeling sorry for him; worried he won’t have you to decorate a £150k home, no free holidays, these are not your concern.