Q: During a divorce, if one of the spouses received a lump sum of money does that count as marital property
Money was given to spouse her father and is currently in her separate bank account. Still legally married and should the spouse who received the money have to report it to the lawyer and be split between the 2 spouses?
A:
This is a more complicated question than you may realize. Yes, the lawyer should be aware of all of a client's assets. The first issue is where did the funds come from?
The second issue is where are the funds now?
The third issue is whether or not the funds are marital or non marital property.
So i will give you the most common examples:
1. Personal injury/worker's comp/employment case, separate or joint account is marital if the injury occurred during the marriage.
2. Inheritance in separate account is non marital. In joint account can be argued either way.
Hopefully, I have now answered your question.
1 user found this answer helpful
A: He or she should report it. If the money was a gift or was inherited, it is a non-marital asset, and is NOT subject to division. If it is marital money, it should be reported because it would be fraud if it is not disclosed.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
