Legal Question in Family Law in Utah
Asset Owership
If assets are brought into a marriage, are they considered joint property after 4 years of marriage? ie: antique furniture Or gifts from one's parents given after the date of marriage, again antique furntiure are they considered joint property?
Thank you for your assistance.
1 Answer from Attorneys
Re: Asset Owership
Assets owned prior to a marriage and not co-mingled with marital (after marriage) assets are kept separate. Likewise inheritances which are not comingled are considered separate assets. So when grandma died and left you an antique chair, that is not a marital asset. However, if when grandma died she left you a $1000 and you deposited that into a joint checking account, the money becomes comingled and looses its inheritance identity. BUT if you placed the $1000 into a CD all by itsself then that asset is not marital. Generally, marital assets refer to those assets acquired by a couple after marriage.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
