What is marital property vs. non-marital property?
New York matrimonial attorney Evan Schein of Berkman Bottger Newman & Rodd talks about marital property versus non-marital property.
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The easy way for me to explain the difference between separate property or non-marital property and marital property is I tell every client what you come into your marriage with is your separate property. Marital property is anything that’s accumulated or acquired during your marriage. So from the date you were married until the date either you or your spouse initiate a divorce action that time period anything you earn or acquire is considered marital property. Anything prior to the marriage is separate property and anything you accumulate acquire after a divorce is separate property. Gifts or an inheritance that one spouse receives during a marriage those things are also separate property. But excluding an inheritance and a gift, generally speaking, anything that either parent acquires during the marriage will be considered marital property.