Legal Question in Wills and Trusts in Illinois
My parents are eldely and I assume that some day I'll be inheriting their small modest home that I grew up in. I've been in a failed (and abusive) marriage for 24 years, and if my childhood house will someday belong to me, it will be part of my escape plan to leave the marriage. However, if I'm still married to my husband at the time I (possibly) inherit the home, is he automatically entitled to half of my inheritance. Or, would the home be exclusively my home? I'm just wondering if I need to divorce him BEFORE an inheritance so he's not entitled to anything. And how about a cash inheritance as well...will my husband be entitled to that in any way? I live in IL and the property is in IL.
3 Answers from Attorneys
A spouse is not automatically entitled to half of an inheritance unless the benefciary takes action to include it in the marital estate. For instance, if a person deposits cash from an inheritance into a joint checking account it might be claimed as marital property because it was intended to be comingled with marital funds. A house would likely maintain itself as separate property. You might want to visit a family law attorney to discuss these and other issues that you need assistance with.
Good luck to you. Stay safe.
When you inherit property from your parents, that property is almost always considered to be "non-marital" and not subject to a divorce proceeding UNLESS you have allowed your husband to later gain some ownership of it. For example, if you inherited a check for $100,000.00 and then deposited that check into a new account that is ONLY in your name, then that $100,000.00 is very likely spared from a divorce proceeding. However, if you deposited that check for $100,000.00 into joint checking account that you have with your husband, or if you later transfer that $100,000.00 into a joint checking account with your husband, he can then make a very good argument to include that in the division of assets when you divorce. Alternatively, you can set up a Trust, which would provides a different mechanism to shield inheritance from a divorce. You may also want to ask an attorney to draft Powers of Attorney that allow someone other than your husband to make decisions for you if you become incapacitated.
The concept of "marital property" in a divorce proceeding is somewhat in conflict with the concept of equitable division of assets. Your inheritance, if you should become divorced, may lessen your spouse's responsibility for alimony payments. I think you should talk to a divorce attorney to review your options for moving forward with your life.