First, it’s important to understand how a divorce affects an individual’s inheritance. While an inheritance obtained during a marriage may be shared between the spouses, it is still treated as a distinct asset. Being a gift, it is typically kept by the recipient. Discuss your case with a divorce attorney Huntsville, AL.
Therefore, the inheritance might not affect the distribution of assets. What function, if any, does it serve in spousal maintenance?
If the payee receives an inheritance before alimony is established, what happens then?
In the event that the person receiving spousal assistance is also entitled to alimony, what happens then? This could be because the payee is waiting for an estate to go through probate or because a sick person is known to have willed a large quantity of money to them. Spousal support is unaffected by the prospect of inheritance. The amount of money in an individual’s bank account will not sway the court’s decision.
However, if the payee receives an inheritance before the spousal support amount is determined, it will undoubtedly affect the amount they receive. Keep in mind that the purpose of spousal support is to ensure the financial well-being of the lower-earning spouse following the dissolution of a marriage. If one ex-spouse can support themselves financially thanks to employment, a new relationship, or an inheritance, the other should not be required to make alimony payments. Obviously, the size of the inheritance and its anticipated duration are key factors here.
If the Payee Receives an Inheritance After Alimony Has Been Set
Alimony payments have begun after being imposed by the court. But what if the recipient suddenly comes into a lot of money? The payor has the right to petition the court for a modification or termination of alimony.
This situation is analogous to when the payee attains significant life milestones like graduation, a significant promotion, or the establishment of a stable financial relationship with a spouse or live-in partner. The court will not order the ex-spouse to maintain financial support once the dependent no longer needs it. One or both parties may be required to disclose any inheritances or huge sums of money to the other, depending on the terms of the divorce settlement.