Amanda Crowell's Blog
When you are going through a divorce, you will hear property being described as “marital property” and “separate property.” Generally, marital property are assets which were acquired during the marriage. If property is deemed marital during a divorce, then it will be subject to division by the divorce court. Separate property can include property that was owned by you prior to the divorce, or a gift/inheritance which has been acquired during the marriage. If something as deemed is your separate property, then it will be not be subject to division by the divorce court.
If you are trying to claim that an inheritance or gift was made just to you, you will need to provide evidence of that, as your spouse may try to claim the inheritance or gift was made to the both of you. For example, if you are claiming that your parents gifted you $15,000.00 as a down payment on your house, you may want to produce bank statements or some kind of record showing that the money was gifted solely to you. If not, then the money can be considered marital property, which means it would be subject to an equitable division during your divorce.
If you are filing for divorce or have more questions regarding property division during your divorce, contact Amanda Crowell at Kane & Crowell Family Law Center at www.kane-law.com or by phone at (615) 784-4800. We handle cases in Wilson County, Sumner County, Trousdale County, Macon County, Smith County, and Rutherford County and are happy to put our experience at work for you.Continue reading