If I inheirit a home or recieve a life insurance claim, does it become community property?
Answered on: 3/30/09, 8:32 pm by Mark Williams
Re: community property
NC is not a community property state.
If you receive an inheritance or life insurance and you gift it to your marriage, it could become marital property.
To prevent it from becoming marital property, put the funds in an account that is ONLY in your name and keep it ONLY in your name. If you can trace the funds to your inheritance at the time of divorce AND you maintain it in your own name, it will remain your separate property.
Did you find this answer helpful?
0 Users found this answer helpful.
0 Attorneys agree with this answer.
Rice Law, PLLC - Web Based & Downtown Office 401 Chestnut Street, Suite G Wilmington, NC 28401► Other answers from this attorney