Even when the assets and wealth you’ve accumulated were all built up during your marriage in Brooklyn, you may still have separate assets, and even cash, that you’ll want to treat very carefully during the course of your divorce.
When people marry young, things like homes and cars will almost definitely be identified as marital property whose value is subject to equitable distribution between the spouses, but what happens when one spouse was left a valuable inheritance?
For physical property like antiques, art, or other tangible assets, inherited items are typically understood to be separate property.
When the gift is cash from a relative’s estate, if the money was deposited into a separate account and not commingled with marital funds, it is likely also considered separate.
If it was deposited into a joint account and used for marital expenses, the court may view it as having converted to a marital asset.
The attorneys at Zelenitz, Shapiro & D’Agostino can help you maximize your settlement and ensure that separate property stays that way.
If you have questions regarding separate property, call us today at 718-725-9601 for a free consultation with an experienced Brooklyn divorce attorney.