Matthew Lane & Associates, P.A.
PALM BEACH GARDENS, WEST PALM BEACH, WELLINGTON, BOCA RATON561-328-1111
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Posts tagged "Division of Property and Assets; Divorce"

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. In Dravis v. Dravis the Florida Court of Appeal recently stated that: Although non interspousal 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.

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