Parents are often thrilled when their children marry, welcoming new family members with the hope of a lifelong union. However, as reality shows, marriages don’t always last. While you can’t shield your children from the emotional toll of divorce, you can take steps to ensure their inheritance remains protected. Including asset protection in your estate planning can prevent an ex-spouse from claiming part of your child’s inheritance in a divorce.
Ohio follows an “equitable distribution” system, meaning marital property is divided fairly—but not necessarily equally—during a
divorce. While assets inherited by one spouse are generally considered separate property, they can easily become marital property if commingled.
For instance, if your child inherits money and deposits it into a joint bank account with their spouse, it can lose its status as separate property. Similarly, if an inherited home is jointly improved or used as the couple’s residence, its increased value may be considered marital property. Once separate property becomes marital property, it typically cannot be reversed.
To safeguard your child’s inheritance, consider the following options:
1. Establishing a Trust
A well-structured trust is one of the best ways to protect an inheritance. Two primary options exist:
For inheritances involving family businesses, farms, or valuable property, an LLC can be an effective tool. By structuring ownership through an LLC, assets remain separate and protected, preventing them from being subject to division in a divorce.
The unfortunate reality is that nearly half of marriages end in divorce. By taking proactive steps now, you can help ensure that your child’s inheritance remains protected for future generations. Consulting with an experienced estate planning attorney at Hoover Kacyon LLC can provide peace of mind and legal strategies tailored to your
family's needs.
Contact Hoover Kacyon LLC today to discuss safeguarding your child’s inheritance and securing your legacy. We deliver the highest quality legal representation from a team of professionals while also providing excellent customer service.
Call us at
330-922-4491 or
contact us online to make an appointment.
The law firm of Hoover Kacyon, LLC has one overarching goal — to fight for your cause, protect your interests, provide reasonable and prompt resolutions to your matter, and to do it all with professionalism and honor.
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