Legal Question in Family Law in New York
inheritance laws during a legal separation/divorse
My wife's father passed away a few years ago and left an inheritance of ~$90,000. The money was placed in a joint account and we have been using it to pay the bills along with the help of both of our salaries. Recently, the money was pulled out, by my wife, of our joint account and placed in an account under her name. This was done due to a recent arguement that we had. Her comment was that it was to protect the kids and herself if we split. The ammount had dwindled down to $64,000, at that point. My question is, is that money still considered part of her inheritance or is it ''community'' money given that it was placed in a joint account?
2 Answers from Attorneys
Re: inheritance laws during a legal separation/divorse
I am sorry to hear that your marriage is not doing well. Based on this information, my experience says that she is shopping for a lawyer to represent her in a divorce. She has started dividing the property and has, therefore, emotionally left the marriage.
In answer to your question, while the money was her separate property and not a part of the marital estate when she received it, by placing it into a joint account she made it jointly held property. The act of re-depositing it in a separate account cannot change it from joint property; only a signed writing from the other party (you) can do that.
You are welcome to a consultation at no fee at my offices at 42 West 44th Street, NY,NY. Please call for an appointment first. (646) 591-5786.
Re: inheritance laws during a legal separation/divorse
The money, when inherited, was your wife's separate property. However, when placed in a joint bank account became marital property and subject to equitable distribution.
Daniel Clement
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