Inheritance and Marital Property in Divorce

In today’s MarketWatch magazine question was posed as to whether an inheritance could somehow become marital property. It is a question often raised. In New York the initial answer is that money you receive as an inheritance or a gift is considered your separate property and therefore not subject to division as marital property in your divorce.

However, the key issue is how did you treat that inheritance? I always tell clients that a court will treat an inheritance or a gift in the same manner as you did. For example, if you deposited that money in a joint bank account and for years withdrew from it for joint marital expenses, say a joint vacation or buying a summer house, the court will likely treat that money as a joint marital asset. The law calls it “commingling” and there are endless cases and permutations on the subject. If you are married to a spouse who is a spendthrift and fear he/she could receive part of your inheritance in a divorce case, it is prudent to take the advice of a matrimonial attorney. The expense of a consultation could save you many thousands of dollars in the future.

If you wish to schedule an initial consultation, please contact me at 212-605-0435 or 516-280-3123.