Even though your marriage is ending, there may be certain gifts you received or assets in your possession that you hold sentimental meaning towards, reminding you of a time when you were happy. And so, you may be unwilling to give up these belongings in the property division phase of your divorce proceedings. Well, you will have to look into the state’s family laws and see if there is any possibility of fighting to hold onto them for yourself. This blog may offer you some much-needed guidance on this matter. So please continue reading to learn whether you can keep the gifts you receive during your marriage and how an experienced Bergen County equitable distribution attorney at McNerney & McAuliffe can help your efforts.
Can I keep the gifts I received during my marriage after a divorce?
Generally speaking, the gifts that you receive during your marriage are considered your separate property. Therefore, it will not be subject to equitable distribution during your New Jersey divorce proceedings, which only includes marital property. It is worth mentioning, though, that there may have to be evidence that this gift was intended solely for you and not jointly for you and your spouse. For example, if your family member gifted you a high-tech kitchen appliance as a wedding gift to you and your spouse, this may be up for grabs. But, if your spouse gave you a fine piece of jewelry as a wedding anniversary present, this may be yours to keep.
What happens if these gifts were commingled during my marriage?
More often than not, especially in marriages that last for the long term, it is likely that separate assets eventually get commingled. Specifically, commingling happens when separate and marital property is combined during the marriage. This may happen by using separate property to pay for marital assets. For example, you may receive a money inheritance from your parent at the time of their unfortunate passing. But you may deposit this money into a joint bank account you share with your spouse.
Or, this may happen if you use marital property to fund separate property. That is, say that your parent gifts you with an automobile. While your name may be the only one on the title, you may let your spouse frequently drive it. In turn, your spouse may use funds from your joint bank account, or even their separate bank account, to pay for its needed repairs. In either scenario, the New Jersey family court may have to think twice before assigning this property as separate or marital, and you therefore run a higher risk of losing it in the end.
All of this to say, the time to act is now. Please pick up the phone or message us at McNerney & McAuliffe. Surely, a skilled Bergen County family law attorney on our team will be the perfect fit for your upcoming legal case.