When determining a property settlement the Court undergoes  four step process in order to do so.  

Inheritances and gifts are considered in either the second step by way of a contribution on behalf of a party or in the fourth step by way of determining what is just and equitable.

The Court will apply certain weight to the inheritance and how that should be viewed in light of the asset pool.  The amount of weight attributed to an inheritance relies on a plethora of consideration such as the following;

The length of the marriage;
The timing of the inheritance or gift;
The use of the inheritance or gift;
Whether the inheritance or gift became the “springboard” for the parties assets;
Whether the inheritance or gift is the only property to be split between the parties;
Care of the testator prior to death by either of the parties.

An inheritance or gift made on behalf of a party does not in itself exclude or protect that asset or part thereof from the property pool.  The Court would need to look at each individual case in a different way due to the factors that can influence the resulting percentage distribution.

The Court is also able to consider a pending inheritance, however, circumstances under which the Court may do this uncertain.  

It is always important when determining the split of assets in a property settlement that each party gets independent legal advice. Here at Hatzis Lawyers we offer legal advice consultations to advise you of your rights and obligations in a family law property settlement. Don’t hesitate to call on 1300 HATZIS for more information or to book a consultation time.