Cash gifts from family members may be subject to equitable distribution, especially if they were deposited into jointly held accounts.
Generally, monetary gifts that are held in one spouse’s personal account are treated as separate assets, but in many marriages, spouses routinely put money into their shared account.
In a divorce, gifts like that can be missed by the other spouse, because once the funds are mingled with marital funds, they are usually considered marital property.
There are a number of factors used to determine whether assets are marital or separate, and an experienced Brooklyn divorce lawyer can help you make the strongest claim on assets that have been mingled and should be considered subject to equitable distribution rules.
Call the attorneys at Zelenitz, Shapiro & D’Agostino today at 718-725-9601 to speak to an experienced Brooklyn divorce lawyer for free.