Many Ohio residents find marriage challenging. A couple may grow apart and no longer be emotionally compatible, they might struggle to raise children together and infidelities can lead to an irretrievable breakdown of the relationship. Just as marriage can sometimes be difficult, so, too, can divorce. This can be particularly true when there is a significant amount of assets in question.
Frances Bean Cobain, daughter of Courtney Love and deceased Nirvana front man Kurt Cobain, is now facing this situation. Cobain recently filed for divorce from her husband, after being married for nearly two years. Although she is open to the possibility of paying spousal support, Cobain doesn't want any of her father's $450 million estate touched. She claims that the property, which she inherited, is separate property and should thus not be subject to marital property division.
Property issues like this are not uncommon in Ohio. Regardless of the amount of assets in question, inherited property can be hotly contested. If the assets were truly kept separate from marital property, then it may be kept away from property division. If, on the other hand, there is any commingling of marital funds and the inherited property, the inherited assets may be deemed marital property and thus subject to division. For some, this could mean losing a significant amount of wealth and, possibly, facing economic hardship post-divorce.
This is why it is critical to address these matters as soon as possible. Those who are married and receive an inheritance may want to get more information to learn how best to protect their assets. This may include utilization of a post-nuptial agreement or careful management of the assets to avoid commingling.
Source: TIME, "Frances Bean Cobain Files for Divorce After 21 Months of Marriage," Mark Rivett-Carnac, March 23, 2016