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Protect Your Inheritance & Gifts: The Importance of Keeping Assets Separate in Marriage


Are you aware of the potential risks of commingling separate inheritances or gifts with marital assets? At Ames Law Group, we understand the importance of preserving your individual assets, especially in the event of divorce. Here's why keeping assets separate is crucial and how we can help you protect what's rightfully yours.


Avoiding Commingling: A Vital Step


When it comes to inheritances or gifts received during marriage, it's essential to keep them separate from marital assets. Parties, even if married, should maintain inheritances in individual accounts under their name alone, not jointly with their spouse.


Here's what you should avoid:


1. Putting Inheritances in Joint Accounts: Placing inheritances or gifts into a joint account with your spouse can jeopardize their status as separate assets. Moving inheritance funds or gifts into a joint marital account can blur the lines between separate and marital property, making it challenging to distinguish them in the event of divorce.


2. Transferring Assets into the other spouse's name: Transferring separate property and assets into your spouse's name, for reasons unrelated to divorce, may seem like a gesture of trust or convenience. However, it can have significant implications for your rights in the future. Such transfers could potentially blur the lines between separate and marital property, impacting your ability to claim ownership or control over those assets in the event of a divorce or other legal dispute. Therefore, it's crucial to carefully consider the long-term consequences before making such decisions.


3. Joint Ownership of Assets: Sharing ownership of inherited assets by placing them in both spouses' names can lead to complications during divorce proceedings because such an act may be perceived as a gift to the marital estate.


The Risks of Commingling


Commingling assets can have serious consequences if a marriage ends in divorce. Courts may view commingled assets as marital property, subject to division between spouses, regardless of their origin. By failing to keep inheritances or gifts separate, individuals risk losing what may have been intended as their personal property.


How We Can Help


At Ames Law Group, we understand asset protection and family law. Our experienced attorney can provide personalized guidance on how to safeguard your inheritance and other separate assets. We'll work with you to develop strategies to maintain the integrity of your individual property, ensuring it remains protected in the event of divorce.


Consult with Us Today


Don't wait until it's too late to protect your inheritance and gifted assets. Contact Ames Law Group for a consultation today to learn how to preserve your financial interests and secure your future. Let us help you navigate the complexities of family law and asset protection, giving you peace of mind for the road ahead.


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