|“My spouse inherited a house three months after we got married. Does it qualify as part of our equitable-distribution settlement?”
Gifts and inheritances are not normally considered marital assets and would not, under normal circumstances, be subject to equitable distribution in the State of Florida. However, in order for an inherited asset to maintain its non-marital status, it must remain in the name of the individual, and no marital labor or monies should be used to support the asset. If the asset is either re-titled in joint name or marital funds are used to maintain it, it could lose part or all of its non-marital status.
Bruce M. Berger is a Certified Public Accountant and Certified Valuation Analyst practicing in Fort Lauderdale. He is the managing partner and owner of Bruce M. Berger and Company. He also co-runs a mediation practice.