Some exceptions exist, however, and if you’re contemplating divorce, there are steps you can take to protect a cash gift.
The most important is making sure that you don’t commingle the gift with marital funds.
If you deposit a check into a jointly owned marital bank account, the court may determine that the funds have become a marital asset.
Keeping it separate, in a personally owned checking or savings account, is the best way to ensure that your money will stay yours.
The attorneys at Friedman & Ranzenhofer can help you protect your wealth and assets in a divorce.
Call us today at 716-542-5444 for a legal consultation with an experienced Buffalo divorce lawyer.