PRE-MARITAL ANNUITY

[finepic]

IS A PRE-MARITAL ANNUITY A MARITAL ASSET, AND IS A GIFT FROM A DECEASED PARENT TO THEIR CHILD A MARITAL ASSET?

[TC]

I'm no attorney, so take this for what it is worth.

The pre-marital annuity probably will not be considered a maritial asset unless it is shown that a significant portion of it went to purchase a maritial asset.....in that case, there may be some reimbursement in order.  Otherwise, the person with the pre-maritial annuity probably retains most or all rights to the annuity.

As for the gift....first question would be was the gift received during the marriage or before.  Second would be much the same as above...was the gift used to purchase a maritial asset?  Further, was the gift made only to one party or to multiples.  These are the things the court will more than likely want to know before making a determination, should this matter be presented before them.  Assuming the gift was made to one person by name and not used to purchase a maritial asset, the individual receiveing the gift probably retains all rights to said gift.


That is my take....College Dad if he is around is much better at this stuff than I, so is MT, and Lee is better than all of us of course.

TC

[m_t]

Dunno about the annuity. Inheritances are typically NOT considered marital property - UNLESS they were used for marital purposes. For example, using the inheritance to pay off bills, purchase a marital home, etc. - often makes it marital property.

[finepic]

Thank you all so much for your input!