Separate Property

What Property is Separate Property?

The following property is Separate Property not subject to Equitable Distribution:

1) Property acquired before the marriage or property acquired by bequest, devise, or descent (inheritance), or gift from a party other than the spouse.

2) Compensation for personal injuries.

3) Property acquired in exchange for or the increase in value of separate property, except to the extent that such appreciation is due in part to the contributions or efforts of the other spouse.

4) Veteran's benefits exempt from attachment, levy or seizure pursuant to the laws of the United States, except when a Veteran has waived a portion of his military retirement pay in order to receive Veteran's compensations.

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Stephen K. Underwood, Attorney at Law, 1395 Union Road, West Seneca, NY 14224  (716)656-7676