How do I list inheritance?
It is common that people do not know the exact value of their inheritance, and therefore may choose not to list inheritance on their financial schedule at all. However, if you want to keep your inheritance as separate property in the event of a divorce, you should include it on your financial schedule.
So, how do you value inheritance if you don't know the exact number?
It is important to speak with whomever you may be inheriting from, and get their best estimate for a value of what you may be inheriting. In the case where you are inheriting a portion of a property or trust, along with other siblings, you may list your portion of the anticipated inheritance on your financial schedule. The inheritance portion of the financial schedule outputs as "Anticipated Inheritance," and so it is ok if this number is not down to the penny.
Why should I list inheritance at all?
If you want to protect something - an asset, streams of income, that Picasso painting - in your prenuptial agreement, it is important that you list it on your financial disclosure. Your financial disclosure is key to ensuring that both parties to a prenuptial agreement knew what they were contracting to, and understood the assets they were waiving their rights to. Bottom line? If you do not include an inheritance, asset, income, etc., on your financial schedule, you are at risk of not being protected.
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