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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.
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.
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.