Arlington Heights, Illinois Inheritance and Gift Division Attorney

Knowledgeable Asset Division Lawyer for Gifts and Inheritances in Arlington Heights, IL

In Illinois, the inheritances and gifts you receive during your marriage are considered separate property, which means they are not subject to division when you get divorced. However, there is a concept called "commingling," which says that under certain circumstances inherited property can become part of the marital estate. In other words, the only way to ensure that your inheritances and gifts remain entirely yours is to keep them separate from marital property for your entire marriage. An Arlington Heights, IL asset division lawyer can advise you of how to protect your property from mixing shared and separate property.

If you are a person with considerable assets and you are now facing divorce, your attorney's experience will be a critical factor in protecting your assets and financial interests. At Cosley Law Office, we bring over 30 years of legal experience to the table, including past experience with high-asset divorces. Serving clients in Cook County, DuPage County, Lake County and surrounding communities, we understand that you have many attorneys to choose from. We believe we are the right choice because of our skill, experience and knowledge of the special issues involved in asset division for people of high net worth.

How to Avoid Commingling in Illinois Divorces

Remember the general rule that gifts and inheritance received by one spouse during marriage remain the separate property of that spouse, unless they are commingled with marital property. The best way to keep the property separate is to keep it titled solely in the name of the receiving spouse or in an account accessible only to that spouse.

If the inheritance or gift is instead placed in co-ownership, such as through a joint checking account, property deed, car title or brokerage account, then the property has been commingled, which means it is now marital property, not separate property. Once it becomes marital property, then it is subject to  division during divorce proceedings.

Wondering if Your Spouse's Inheritance Is Subject to Division?

Family law judges in Illinois are careful to keep inheritance and gifts separate from marital assets. However, if your spouse received a gift or inheritance and you are still non-titled, our firm may be able to show that he or she commingled the assets, entitling you to a share of the property.

Meet With an Arlington Heights, Illinios Property Division Attorney to Protect Inheritances and Gifts in Divorce

Reach out to Cosley Law Office to find out more about asset protection and the division of gifts and inheritance in Illinois divorce cases. Please call 847-253-3100 or contact our Arlington Heights inheritance division lawyer to schedule your free initial consultation. We serve clients from Arlington Heights, Barrington, Palatine, Schaumburg, Rolling Meadows, and all surrounding communities.