Wondering about separation and inheritance? Our Solicitor Rebecca answers a question over at SimplyAskIt.
Q:
I have been separated for 2 years, and have just sold the family home. I believe a 50/50 split of the equity is fair but my estranged partner believes she is entitled to more as my father passed away 10 months ago and she is wanting some inheritance as well. My fathers estate is still in probate and overseas. I am self employed, pay maintenance for our child, the ex does not work and has never worked.
Does my ex have claim on my future inheritance, or for a higher split in the equity?
A:
It is important to complete a formal family law property settlement to end the financial relationship between you and protect and any future assets you may receive. You may be able to try and argue that you have received your inheritance after separation but it’s possible that it may form part of the property pool. In relation to the split of the equity, we are not aware of all the details of the relationship but in circumstances where your former spouse has a lower income earning capacity than you and care of the child then she may be able to receive an adjustment in her favour. It is important to seek advice from a family law solicitor in relation to your inheritance and the potential split of the equity.
Need to complete a formal family law property settlement? Talk to the team at Coutts Lawyers & Conveyancers.
This Q&A first appeared online at SimplyAskIt.
