What happens to inheritance if you get divorced?
In Florida, if you get divorced the assets that you inherited are yours to keep as long as you have kept those assets in your name only and have not added your spouse's name to the assets.
Attorney Tom Olsen: Sally you're on news 96.5, go ahead.
Sally: My question is about what happens if a party, mother dies and you're in the middle of a divorce, does that inheritance become part of the divorce settlement?
Attorney Tom Olsen: Okay. Sally the good news is that here in the State of Florida what you inherit is yours to keep, okay? The only qualifier that is when you inherit wealth from your parents if you want to keep it if you get divorced you need to make sure you keep that wealth in your name only.
Let's just say you inherited $100,000, if you keep that in a bank account in your name only you're going to leave with it if you get divorced. If you take that $100,000 and put it into a joint bank account with your spouse and you get divorced he's going to leave with one half. Does that answer your question Sally?
Sally: Okay. That answers it. Thank you very much.
Attorney Tom Olsen: All right, you're very welcome.