A whole host of legal protections usually designate the inheritance of one spouse as his or her individual property, but depending on when the inheritance gift occurs and the choices that the receiving spouse makes surrounding how to store and use the assets of an inheritance, it is not always simple to determine what is and is not inheritance at all.
As you work though your divorce, one of the most complicated and frustrating aspects of the process is usually marital property division. Many spouses do not realize until the process is already in full swing that dividing marital property includes debt as well as assets. While carrying debt is sometimes stressful, it can also be a good tool to help balance out asset division.
When a couple who owns a home divorces, they face the difficult decision of what to do with the home itself. In many cases, a couple will sell their home to get out from under the mortgage and make a clean break. Alternatively, one spouse may want to keep the home even though both spouses can claim a portion of its value.
Over the years, you and your spouse chased after dreams of creating your own business. That dream may have become reality, but now you aren’t sure how your divorce will affect the company.