What Assets Are Untouchable in a Divorce?

Divorce involves many difficult decisions, and one of the biggest concerns is how to divide assets. Knowing which assets are off-limits during this process can help ease some worries, but it’s also important to remember that every divorce is different and must be treated as such.

That’s where we can help. The divorce attorneys at Pence Law Firm can look at your marriage, assets, debts, and other factors in your divorce to help you understand potential outcomes. Call us at 304-345-7250 to get started.

Personal Belongings

Personal belongings in a divorce are items one spouse exclusively owns and uses. Common examples include clothing, personal hygiene items, and personal electronics. These items are usually seen as separate property, meaning they are not subject to division between spouses.

While most personal belongings are off-limits, valuable items like jewelry or art can be treated differently. If an expensive piece of jewelry was a gift specifically to one spouse, it might remain untouchable. However, its treatment can vary based on its use and the specifics of the situation.

Gifts and Inheritances

Gifts and inheritances occupy a unique space in divorce proceedings. Generally, gifts given to one spouse and inheritances received by one spouse are considered separate property, making them untouchable in the asset division process. These items remain with the original recipient, provided there is no evidence that they were intended to be shared with the spouse.

For example, a family heirloom passed down to one spouse would typically remain their property. However, if the asset was commingled with marital property, it might lose its separate status, becoming a subject for division.

Premarital Assets

Premarital assets include properties and belongings acquired before the marriage. These assets are typically seen as separate property and remain untouchable during a divorce. Examples might be savings accounts, real estate, or personal items owned before tying the knot. To keep these assets protected, it’s crucial not to mix them with marital assets. For instance, if you had a savings account before marriage, avoid depositing marital funds into it. Commingling assets can lead to everything involved being considered marital property.

Assets Protected by Prenuptial Agreements

Prenuptial agreements are legal documents that couples sign before getting married. These agreements spell out how assets will be divided if the marriage ends. They are particularly useful for protecting assets like property, investments, or businesses.

When you have a prenuptial agreement, it can clearly define which items are considered separate property and therefore not subject to division during a divorce. This means that any assets listed in the prenuptial agreement will stay with the original owner, as long as the agreement is valid. To be effective, the agreement must be written clearly and signed by both parties. If done correctly, a prenuptial agreement can provide peace of mind and ensure that your assets are protected.

Postnuptial agreements can also specify which assets are not to be touched during divorce. While postnuptial agreements are much less common than prenuptial agreements, they can be useful. For example, if one spouse is unfaithful or causes significant financial distress to their partner, their partner may demand a postnuptial agreement as a condition of giving them a second chance.

Steps to Protect Assets During Divorce

Safeguarding assets during a divorce is an important part of setting yourself up for financial stability. One of the most effective steps is to maintain clear records of ownership and the origins of assets. This documentation is essential in distinguishing between marital and separate property. Consulting with a qualified lawyer who specializes in divorce can provide invaluable guidance and help you navigate the complexities of asset protection. Legal advice can ensure that you are fully aware of your rights and the best ways to secure your financial future.

Finally, don’t make the mistake of attempting to hide assets that you’re afraid will be subject to division. This can severely harm your divorce case and cause the judge to order a division of assets that essentially punishes you for your egregious behavior. Keep everything above board.

Choose Pence Law Firm for Your Divorce Case

The team at Pence Law Firm is ready and waiting to discuss the next steps in your divorce. Schedule your consultation now by calling 304-345-7250 or contacting us online.