QUESTION

what are some details on commingled funds?

Asked on Oct 09th, 2013 on Divorce - Florida
More details to this question:
I withdrew 5k from a large inheritance and deposited it into a joint account. The rest of the inheritance is still in a separate account, and only I have access to it. Is the entire inheritance now commingled, or just the 5k?
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1 ANSWER

Alimony Attorney serving Largo, FL at Cairns Law
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First, its important to note that property which you inherit as an individual, during the marriage, is still considered your own separate non-marital property.  When money is taken out and placed into a joint account the presumption is that the money is a gift to the marriage and now marital property subject to equitable distribution.  As with any legal answer, there are exceptions and it's important to discuss this with local counsel to see if any exist. To get away from the legal language the easiest way to describe this is to think of your non-marital property as blue dye and your marital property as red dye.  If you mix the blue with the red, it becomes purple (I hope).  What the law doesn't allow you to do is simply trace out your $5,000.00 and put that money back in your individual account.  The same goes with the dye analogy.  Once the color turns purple, there is no way to trace out your blue dye to make everything go back to red. Before you make any additional transfer, it would be best to talk with an attorney in your area to protect the remaining funds in your individual account and to discern any exceptions that may exist.  
Answered on Oct 11th, 2013 at 2:23 PM

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