When two people marry, it is not just a union between two individuals, but a union of two families. The influence of the family will reflect on the marriage. The differences in values and culture could spell the difference between a harmonious marriage and one that ends in divorce.
The big question is whether the influence extends to the financial status of the couple. If marriage binds them, will divorce effectively cut all ties?
Inheritance and the Limits of Community Property
The State of Texas follows the principle of community property. That means they consider the properties of the married couple as the property of both parties. Thus, if they divorce, the property should be divided between the two of them in an equitable manner.
However, there are exceptions to community property called separate property. Inheritance is clearly stated as one of the exceptions of community property.
There are still certain conditions for an inheritance to be considered as a separate property. Otherwise, they would also be considered as community property.
Any property that is received by a spouse as a personal gift or a personal inheritance is considered separate property. Unlike property acquired through purchases, the gifts and inheritance will not be community property. It does not matter if it was received during the time that they were married.
This holds true as long as the money or property is not commingled with the community property. For example, if the husband receives a personal inheritance worth $10,000, and he decides to deposit the money into their joint savings account, then it will be difficult to distinguish it from the money that they have also saved. In this case, it would likely end up as part of the community property.
The same principle applies if the money inherited is used as payment to purchase a property like a car. It will then be part of the community property.
Inheritance Given as Gifts
If a husband is given a family heirloom, for example, his grandmother’s earrings, he has the discretion on what to do with the item since it is his separate property. However, if he chooses to give the earrings to his wife, there is no legal obligation to declare it as separate property, nor can the husband demand for its return, unless there is a written agreement that states otherwise.
Latest posts by Hutton Law (see all)
- What to Do When My Spouse and I Disagree on Our Child’s Immunization - March 24, 2020
- Frequently Asked Questions About Annulment in Texas - March 19, 2020
- Trial Separation in Texas - March 19, 2020
- Movies that Can Help Your Child Understand Divorce Better - March 18, 2020
- What Can the Adopted Child Inherit? - March 18, 2020