In New York, your inheritance is characterized as separate property and not subject to equitable distribution in the event of divorce. If, however, you commingled your inherited assets with your marital property, the total amount may be subject to equitable distribution as marital property. In other words, keeping your inheritance separate from marital property throughout the duration of your marriage is the only way to ensure it will remain part of your property settlement.Family Law Attorney in the Hudson Valley, Kingston, & New Paltz
If you are an individual with high net worth who is considering divorce, your lawyer’s experience will play a critical role in protecting your separate property rights and financial interests. I am New York family law attorney Jonathan D. Katz. The hallmark of my practice is my willingness to go beyond the usual measures to protect my clients’ financial interests.You can Protect Your Inheritance in Your Divorce Settlement
If you are considering divorce, one of your most important concerns should be on choosing a lawyer who will represent your interests. As you are probably already discovering, ending a marriage isn’t simple or straightforward. Getting through the process with your financial interests and parenting rights protected takes hard work.
What if your spouse’s inheritance became part of your marital property? Family law judges in New York are careful to keep inheritance money separate from marital assets. If you are a non-titled spouse, however, you may be able to show that you and your spouse commingled separate assets with marital assets, resulting in appreciated value of the inherited amount. Transmutation of assets gives you the right to seek distribution of the amount characterized as marital property, as well as the current and future appreciation value.Let Skilled Divorce Attorney, Jonathan Katz, go to Work for You
Your inheritance is part of your family’s legacy, not something to lose to lose in a divorce settlement. I never forget that your case is the only case that matters to you. Contact me for a consultation to discuss your family law needs. From my offices in Saugerties, I represent clients throughout the Hudson Valley, the Catskills and the New York City metro region.