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that appears to be a simple question but
it is really complex so
in new york the basic rule is that
separate property is anything you had at
the date of the marriage
what you inherited during the marriage a
gift to you alone during the marriage
and any personal injury awards that you
had during the marriage
but what gets complex is how
you
determine what happened to that so
although it may have been separate
property
at the date of the marriage or at one
point when you received it during the
marriage it may have not stayed that way
if you didn’t treat it that way because
things become co-mingled or transmuted
and so it is our job to trace those
assets and we need to look at what you
had at the date of marriage and really
see what you did with it during the
marriage did you
spend it did you use it did you
trade it
and so we have to trace those assets
whether they’re what you received as a
gift or whether you had that asset
coming into the marriage and one example
of that is a business asset so you may
have had a business at the date of your
marriage but you were working hard you
were making that business grow and now
that may be either a different business
or a much more valuable business so
although the business at your date of
marriage was separate property it that
appreciation has become marital property
or if it’s become into a new business
that may be marital property so we
really need to look at what happened
during the marriage and then we need to
look at
the the person’s contributions to that
business and then the non-titled
spouse’s contributions to the business
because what is their true entitlement
to that appreciation because new york is
not a simple 50-50 state we don’t just
take meryl property and hack it up down
the middle we really looked to see how
it was created
what happened and the evolution of the
separate property and the marital
property and my forensic accounting
background allows me to go back and
really
rebuild the the mayoral
estate and see what happened during the
marriage to try to understand
what happened to that separate property
and if it still remains separate or if
it’s now
marital property and one example i
always give clients is separate property
is white paint you come into the
marriage with beautiful white paint
but sometimes you put red paint into
that white paint whether it’s your work
whether it’s dollars whether it’s your
mind and now that white paint and their
red paint is combined and it turned pink
how do we make that pink paint back to
white
that is our job and it sometimes is
difficult
and almost impossible
and sometimes we’re able to do it and it
really depends on the asset
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NYC family law attorney S. Susan Gross explains the difference between marital and non-marital property in New York.