Florida Divorce Attorney Russell Knight Explains Inheritance and Divorce in Florida
Aug 15, 2022
August 15, 2022 - /PressAdvantage/ - Florida divorce attorney Russell Knight releases a new article (https://divorceattorneynaplesfl.com/inheritance-and-divorce-in-florida/) that discusses inheritance and divorce in the state of Florida. The lawyer mentions that it is not usual for a married couple to receive an inheritance together. Usually, only one spouse will receive an inheritance. So, what will happen to this inheritance after the divorce?
According to the Florida divorce attorney, “The Florida statutes outline that the court shall set apart to each spouse that spouse’s nonmarital assets and liabilities and that for marital assets “the distribution should be equal”. So, if an asset is non-marital, whoever has that asset in their name or possession gets to keep that asset after the divorce without dividing it. If an asset is marital, that asset’s value will be split 50/50 in the divorce.”
The lawyer says that any inheritance is not marital property and therefore cannot be divided in a Florida divorce. The new asset, even if it is sold by the inheritor and bought with the proceeds of another asset, will not be divided.
Attorney Russell Knight says that the spouse who inherits the asset must prove that it is inherited. To prove the inheritance, the spouse must show financial records.
The article also states that an inheritance can make it possible for a person to pay alimony, even if the inheritance was not marital. The courts will use the spouse's previous standard of living to determine their need for alimony if they do not make any changes in their lives after receiving an inheritance.
Attorney Knight also explains that inherited property may be transformed from the non-marital property into marital property if it is given to the spouse. In this instance, there are two rules. The first is that inherited property cannot be married, while the second is that interspousal gifts may become marital property.
Lastly, the Florida divorce lawyer emphasizes the importance of having a skilled lawyer when it comes to matters such as alimony and asset division. Having an experienced attorney may be able to help the client understand their rights and responsibilities in the case.
About The Law Office of Russell Knight
The Law Office of Russell Knight was established in 2009 by the divorce attorney Russell D. Knight. The lawyer’s love for family law is demonstrated by the numerous articles personally written by the lawyer. Russell is a licensed lawyer throughout Florida and Illinois. The attorney has a legal practice in both states and employs an entire staff of paralegals and attorneys in the two states of Chicago, Illinois, and Naples, Florida. Contact them today at (239) 202-0455.
Law Office of Russell Knight
1415 Panther Ln #218, Naples, FL 34109, United States
(239) 202-0455
###
For more information about Law Office of Russell Knight, contact the company here:
Law Office of Russell Knight
Russell D. Knight
(239) 202 0455
[email protected]
1415 Panther Ln #218, Naples, FL 34109, United States
ReleaseID: 60054303
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