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So, this is a great question that I get all the time. The general premise, basic premise is no, it cannot be included in marital assets. If you receive inheritance from your family, you keep that separate. It is your separate non-marital property. However, if you co-mingle that asset, then it will convert to marital property. What that means, you have funds in an account, you make it a joint bank account. That’s co-mingling it. you inherited a home, you put your spouse’s name on the deed, that co-mingles it.
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That act of joining that property with the other person, that makes it a joint marital asset subject to equit distribution. One other thing that a lot of people don’t know that’s very important is any appreciation, especially active appreciation of that inherited asset can become a marital asset. So, for example, you inherited a home that had a mortgage from your family. If you’re paying down that mortgage with your income during the marriage or especially if you’re paying it down with joint funds from the
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marriage, that pay down of the mortgage could become a marital asset. And that’s a very important point that a lot of people don’t know. Um the best way to shield that of course would be to one not get married, but the other way to shield it would be to have a prenup or a postnuptial agreement. That would make those assets separate non-marital property. And that’s usually what I see most people come to me for for postnups or prenups is to protect their inherited property.