Q: inheritance placed in a joint account considered marital property in a divorce?
Mother-in-law passed away Jan 2020. Wife had inheritance but did not receive the money until Dec 2021 but placed in a joint account with me. Wife asked for a divorce in Nov 2021 but we are not yet divorced. Is the inheritance, now in a joint account, considered marital property?
A: In Massachusetts all assets are subject to property division and this would include the inheritance recently received by your wife. Depending upon the statutory application however, which includes length of marriage, marital contributions, relative need, ability to acquire future capital, age, respective employment and employability, source of income.. etc., the share allocated by the Court to a spouse can be less than a 50/50 split.
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