If your spouse is listed in a will/trust to inherit land on the death of their mother is that considered as part of the financial assets to be split between the spouses?
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If your spouse is listed in a will/trust to inherit land on the death of their mother is that considered as part of the financial assets to be split between the spouses?
The wife is listed to inherit 80 acres of land upon the death of her father and the other 80 acres upon the death of her mother. The land is in a trust where she does not receive the land until both parents pass. Her father passed away several years ago and her mother receives rent off both parcels until her death. Is this considered part of the assets if there’s a divorce before her mother’s death?
Asked on August 2, 2016 under Family Law, South Dakota
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
As a general rule, inherited money or property is the separate property of the spouse who inherited it. That having been said, if that spouse makes money from the inherited property or commingles the monies or assets for use as part of the marital estate, then the portion of the co-mingled asset can transition into a marital asset. At this point, you should consult directly with a local attorney for further information about your specific situation.
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