Inheritance laws help control the rights of the decedent’s property and how much is inherited by each of his or her survivors. California is a community property state, which means the law presumes all property acquired during a marriage is owned equally by both spouses. However, property one spouse owns alone before a marriage or acquires by gift or inheritance during a marriage is considered separate property.
But just because inheritances are generally considered separate property does not mean that this cannot change. It is possible to invalidate separate property in California if you do not do your due diligence in managing that property. Commingling is a term that refers to one spouse’s separate property becoming mixed with a couple’s marital property. This means that if you do not manage your inheritance properly, it could be considered marital property under state law. For example, if you were to inherit a large sum of money and deposit that money into an account you hold jointly with your spouse, that inheritance loses its status as separate property.
Divorce and Inheritance
If you and your spouse are divorcing, you should look into your state’s laws regarding divorce and inheritance. You may also seek a free consultation with an attorney that can provide assistance to help you figure out what will happen to your inheritance once you pass away.
Questions About California Inheritance Laws?
If you have more questions about inheritance laws pertaining to you and your spouse, contact a lawyer for legal assistance. Call the trusted estate planning attorneys at Lowthorp, Richards, McMillan, Miller & Templeman at (805) 981-8555 or fill out our online contact form.