Will I Need to Split My Expensive Personal Items in My Divorce?
While you may be able to keep most of your personal items in the aftermath of your divorce, the expensive ones may be up for grabs. This is especially the case if they are worth significantly more than they were when you initially purchased them. Follow along to learn how your expensive personal items will be distributed and how a proficient Nassau County division of assets attorney of The Pollack Law Firm, P.C., can aggressively fight to protect them.
What are considered expensive personal items in New York State?
You may think that your personal items with designer brand names (i.e., purses, shoes, etc.) or jewelry (i.e., your engagement ring, wedding band, etc.) are your only possessions that are worth significant monetary value. However, there may be many more expensive items in your possession than you may think. Examples are as follows:
- Fine china.
- Collectible items:
- Comic books.
- Hobby accessories:
- Golf, skiing, camping gear.
- Musical instruments.
- Sports memorabilia:
- Trading cards.
- Autographed gear.
Will I have to divide my expensive personal items in my divorce?
If you paid for an expensive personal item using your joint credit card while you were married, then it is classified as marital property. With New York State following equitable distribution law, a judge will be fairly and justly divide this marital property between you and your spouse during your litigated divorce.
In contrast, if you purchased an expensive personal item using your personal credit card before you were married, then it will be classified as separate property. This separate property will not have to undergo equitable distribution.
Will I have to establish that my expensive personal items are separate property?
It is important to note that other items that may be considered separate property are as follows:
- An item that was attained during the marriage as an inheritance.
- An item that was attained during the marriage as a separate gift from a third party.
- An item that was attained during the marriage as a gift from your spouse via a separate source of funding.
So, in your litigated divorce, if you are claiming that an expensive personal item is a separate property, then you must satisfy the burden of proof. This means that you must provide the New York court with evidence in the form of receipts that include the date and credit card used to purchase the item. If you cannot locate your receipts, then you can provide other evidence, such as dated photos of the item in your possession before your marriage.
For help, we recommend that you employ a talented Nassau County divorce attorney as soon as you possibly can.
Contact our experienced Nassau County firm
The Pollack Law Firm, P.C., is always available to assist and represent parties in divorce, separation, and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis at (516) 938-3330.