Guardianship and Inherited Assets in a Florida Divorce
When a couple divorces, the division of assets can become a complex and emotionally charged process, especially when inherited assets and guardianship are involved. Understanding how guardianship works in Florida and its impact on inherited assets during a divorce is crucial for protecting your rights and financial interests.
Guardianship is a legal relationship established by a court in which a guardian is appointed to manage the personal, medical, and financial affairs of an individual who is unable to do so themselves due to age, disability, or incapacity. In Florida, guardianship can be established for minors, elderly adults, or individuals with disabilities. In divorce proceedings, guardianship can complicate the division of assets, particularly when one spouse has inherited assets that may be subject to guardianship. Talk to a skilled Orlando family lawyer to learn more.
How Guardianship Affects Inherited Assets in Divorce
Inherited assets are generally considered non-marital property, meaning they are not subject to division in a divorce, but there are exceptions to this rule. If the inherited assets are commingled with marital assets or used for marital purposes, they may lose their non-marital status and become subject to equitable distribution.
For example, if one spouse inherits money and deposits it into a joint bank account used by both spouses, the inheritance could be considered marital property. Similarly, if an inherited home is used as the marital residence or if the inheritance is used to pay for marital expenses, it may be subject to division during the divorce.
Should guardianship be involved, the situation becomes even more complicated. If one spouse is under guardianship or if a child or dependent is the beneficiary of inherited assets, the court may need to consider the best interests of the ward when determining the division of assets.
So, if a spouse under guardianship inherits assets, the guardian may have control over those assets. During a divorce, the guardian may need to be involved in the division process to ensure the ward’s financial interests are protected. This could lead to a more thorny legal process, requiring the court to balance the rights of the ward with the equitable distribution of marital assets.
Protecting Your Inherited Assets
To protect inherited assets, it is essential to keep them separate from marital property. This can be done by keeping inherited funds in a separate account, avoiding the use of inherited assets for marital expenses, and maintaining clear records of the inheritance.
Additionally, working with an experienced Orlando family lawyer can help you navigate the complexities of guardianship and inheritance issues in divorce. Your attorney can provide guidance on how to protect your rights and ensure that your financial interests are safeguarded throughout the divorce process.
How is the concept of guardianship impacting your situation? Guardianship and inherited assets can significantly impact a Florida divorce, making it essential to understand the legal implications and take steps to protect your assets. With support from the attorneys at Donna Hung Law Group and 3rd party help from a guardianship attorney, you can move through these challenges and secure a fair and equitable outcome. Call 407-999-0099 or contact us online.
