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Are Cash Gifts From My Relatives Subject To Equitable Distribution In A Queens Divorce?

No, assuming the gift was deposited into a separate bank account, your gifts of cash from family shouldn’t be subject to equitable distribution.

The situation is murkier if the funds were deposited into a joint account, and the court could find that the gift became marital property in that case.

Good recordkeeping will be important in asserting a claim that a gift is a separate asset if your spouse challenges it.

Generally, equitable distribution applies to assets and earnings that the spouses produce during the marriage, with important caveats for things like inheritances and personal injury awards, which are always considered separate.

An experienced Queens divorce attorney can help you hold on to the things that are yours, and fight off challenges to claims that separate property belongs to the marriage.

Call the attorneys at Zelenitz, Shapiro & D’Agostino today at 718-523-1111 for a free consultation.