Is an inheritance a marital asset?
Often times the issue of inheritance comes up during a marriage. When is inheritance a martial assets and when is it not? The definition of a martial asset that we use is it’s an asset that’s accumulated during the marriage as a results of efforts expended during the marriage. So if you get an inheritance during the marriage, it’s received during the marriage but it’s not received or gained as a result of any efforts you or your spouse expended during the marriage. Therefore, it’s not a marital asset. But guess what — if you take that inheritance and you put it into a joint account, or you invest it property that you jointly held, you’ve now made a gift to your spouse and you’ve made that asset a marital asset. So be careful if you get any inheritance or you get separate property, be sure to maintain it in a separate account.