When a couple decide to divorce, one of the major concerns/disputes is financial assets. Here we consider inheritance and whether an individual would be entitled after a divorce.
What If I Am Expecting Inheritance During a Split?
In some circumstances, an inheritance could be expected whilst the beneficiary is going through the legal process of divorce. If inheritance is expected to be a considerable amount, divorce proceedings could be postponed until the inheritance has been received.
Will My Ex-Partner Be Entitled to Inheritance I Have Received After Our Split?
Whilst going through divorce proceedings, any inheritance that may be expected in the future is not taken into consideration. However, ex-partners may still be entitled to future inheritance after a divorce is finalised if no consent order has been put in place.
How Do I Protect My Future Inheritance?
When going through divorce proceedings it is important to consider taking out a consent order. Both parties will need to come to a mutual agreement regarding financial aspects and, providing an agreement has been met and agreed by a court, a consent order will protect both parties’ future assets including inheritance.
For more information about consent orders click here.
Many individuals leaving an inheritance will want it to go to a certain individual. Anybody in this situation should consult a professional which specialises in trust and estate planning.
For more information on estate planning click here.
Pre and Post Nuptial Agreements
Pre-nuptial and post-nuptial agreements can be used as a way of protecting your current assets and future inheritance. These documents will identify ownership of assets and highlight how finances will be handled after divorce.
Please note: Pre and post-nuptial agreements currently are not legally binging in the UK, however may be considered by a judge when looking at the finances that both parties have brought to the relationship.
Protect Your Inheritance with Help from Howells
Protect yourself and your finances, or learn more about divorce and the range of services Howells provide, by viewing our divorce services. To speak with an experienced, understanding divorce lawyer, contact us today on0808 178 2773.