Matthew Lane & Associates, P.A.
Palm Beach Gardens, West Palm Beach And Wellington, Florida Offices 561-328-1095

In a Divorce, what happens to gifts and inheritances from Parents

 In a division of property and assets case, gifts from your parents may end up belonging to your spouse if the proceeds are comingled with marital assets. InDravis v. Dravis the Florida Court of Appeal recently stated that: Although noninterspousal gifts and inheritances, like those from a parent, are usually treated as nonmarital assets, see ยง 61.075(6)(b)(2), this can change. Nonmarital assets may lose their nonmarital character and become marital assets where they are commingled with marital assets. This is especially true with respect to money because money is fungible, and once commingled it loses its separate character. Money loses its nonmarital character when it is commingled with marital money. Where gift proceeds are commingled with proceeds that are marital assets, the gifts may lose their nonmarital character and, as a matter of law, become marital assets subject to equitable distribution.

In a division of property and assets case, assets that previously might have been said to have any nonmarital character may be dissolved into a commingled cash account. When a party commingles marital and nonmarital funds in his personal account, all the funds in that account may lose their separate nonmarital character. Once proceeds are deposited into a joint account, their nonmarital character may be lost. Even if an account is titled solely in one spouse's name originally, nonmarital funds that have been commingled with marital funds may not retain their nonmarital character simply because the account in which they are kept is titled in the name of only one spouse. Although a Wife or Husband may title brokerage accounts in their own names alone, this fact may not be relevant. Even if an account is titled in one spouse's name alone, it may become marital if both marital and nonmarital funds are commingled in that account. Whether the account was titled individually or jointly thus may make no difference.

To speak to a Jupiter divorce attorney, call Matthew Lane and Associates, P.A. at (561) 651-7273.

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