When you’re going through a divorce, not everything you own is necessarily divided. Separate property may include certain assets owned before marriage, individual gifts, or inheritances.
For example, if you receive an inheritance and keep it in an account in your name, separate from marital funds, it may remain separate property. But if those funds are deposited into a joint account or used for shared expenses, they may become commingled, making it more complicated to determine what remains separate.
Good documentation matters. Bank statements, inheritance records, and other financial documents can help show where an asset came from and how it was handled.
Understanding the difference between separate and marital property early in the divorce process can help you avoid surprises later. Before agreeing to a settlement, take the time to identify your assets, understand their history, and consider how each one may affect your financial future.
Because separate-property laws vary by state, understanding your specific situation before making decisions is important.
Jodie Lane, Certified Divorce Financial Analyst® and founder of Pathway Divorce Solutions LLC, helps clients understand the financial pieces of divorce and make informed decisions about their future.
Book your 30-minute consultation with Jodie today:
https://calendly.com/greenstonefinancial/divorce-free-consultation