Generally not if you have kept the inheritance in a separate account solely in your name and have not added marital funds to it, because such property is considered to be separate property and therefore, not subject to equitable distribution upon the dissolution of the marriage. Equitable Distribution (also, commonly referred to as “ED”) is a method for distributing property acquired and owned by either spouse upon divorce or annulment. New York is an equitable distribution state and the controlling statute is Domestic Relations Law Section 236 (B).
Equitable distribution is usually a three step process. First, the assets need to be identified. Second, each asset must be classified as either separate or marital, and third, the property is distributed.
Separate property is defined under Domestic Relations Law Section 236 (B)(1)(d) as the following:
Marital property is all real and personal property that does not fall in one of the separate property categories acquired by either spouse or both from the date of commencing an action (filing a Summons) for divorce. Marital property is subject to equitable distribution upon divorce, while separate property remains separate without claim of the spouse.
The Law Offices of Stephen I. Silberfein, P.C. practices matrimonial and family law exclusively. Trust in them to eliminate surprises, litigate the best results possible, negotiate settlements and deliver a high level of personal service and contact.