Can I Get Back My Inheritance I Used to Help Purchase Our Home During My Illinois Divorce?

DuPage County Divorce Attorneys Helping Recover Your Inheritance

During your divorce, you will need to address multiple types of legal and financial issues, including reaching agreements with your spouse about the division of marital property. However, you may encounter concerns about how different assets will be handled. If you received an inheritance during your marriage, it will generally be considered non-marital property that you will not need to divide with your spouse. However, if you used money you inherited to help purchase the home you and your spouse own, you may be unsure about whether you can receive this money back during your divorce.

It may be possible to get your inheritance that you used to assist in purchasing your home back in certain circumstances. If you had some form of written agreement with your spouse that detailed where the funds originated and how they would be used, you may be compensated for the contributions you made to the marital estate. Our team here at Mirabella, Kincaid, Frederick & Mirabella, LLC can help you understand what steps you may be able to take to recover inheritance money during your divorce.

Issues That Affect Marital and Non-Marital Property

The primary issue that often arises when addressing issues related to inheritances and marital assets is whether there is any formal documentation distinguishing which funds belong to whom. When no agreement has been made, it may not be possible to separate the inheritance you contributed toward purchasing your home from the marital property you own together with your spouse. When a non-marital asset becomes commingled with marital property in this manner, it may be considered part of the marital estate that will need to be divided during your divorce.

If you did not have a written agreement, you may need to take other steps to prove that the money you contributed toward your home originated as non-marital property. You will be expected to find and supply evidence stating that the money from your inheritance was not intended for your marital estate. If you provide sufficient evidence, a court may determine that you should receive this money back.

Although proving that you received an inheritance and used it to help purchase your home may sound easy, there are some complications that may arise. You generally cannot simply state that you did not intend for the money to be given to the marital estate. Your use of the property you owned to make purchases that would be used by your family may be seen as an indication that you intended to make a gift to the marital estate.

In the event that you cannot convince the courts, the money you contributed will likely be considered to be part of the marital assets you and your spouse own together. However, there may be a decent chance that you can receive some form of reimbursement for the contribution. Because your contributions to the acquisition of marital property will be considered when determining how to divide assets with your spouse, you may be able to receive a larger share of other property. When addressing these issues, the team at Mirabella, Kincaid, Frederick & Mirabella, LLC can step in to help gather evidence to support your claims, and we can help you negotiate agreements that will protect your financial interests.

Contact Our DuPage County Marital Property Division Attorneys

For decades, our law firm has been tackling cases involving divorce disputes, family law matters, and criminal cases. You can contact our office so that we can examine your situation and help you determine the best options. The phone number for our office is 630-665-7300. If you are in Kane, DuPage, or Kendall County, do not hesitate to call us for more information.