Legal Question in Family Law in Texas
divorce
I am the beneficiary of the interest income from a trust. I put that income in a joint bank account with my wife. As a result is the interest income community or separate property?
2 Answers from Attorneys
Re: divorce
If this were litigated under NC Law and the trust income were considered your separate property, depositing it to a joint account could be determined to be a gift of the income to the marriage. These moneys would certainly be included in any determination of dependent/supporting spouse for purposes of post separation support and alimony.
NC does not have a concept of community property except upon a legal separation, the claim of equitable distribution can require that property held by one spouse but marital property be subject to division.
See a NC attorney for more info.
Re: divorce
Income generated by separate property is community property.