Articles Tagged with NYC Assets

Receiving an inheritance during a marriage does not necessarily mean that the money will remain yours alone if you later divorce. Although New York generally classifies inherited property as separate property, the way a spouse handles those assets can transform them into marital property that must be divided with the other spouse. A recent New York decision shows the potential consequences of commingling inherited assets: the court upheld the equal division of an investment account containing inherited property after the spouse who received the inheritance failed to prove it remained separate. If you have received an inheritance and are contemplating divorce, speaking with an experienced New York divorce attorney can help you determine whether those assets may be protected from equitable distribution.