Gifts? Or equitable distribution?


#1

Hi…2 questions. Is my engagement ring/wedding ring subject to ed? Also, we have two cars that were given to my children. My parents contributed about 1/3 price of each car. Are they gifts or will they go into equitable distribution? Also, the car I drive was given to me by my mom. Same question, gift or ed?

Thank you


#2

Your engagement ring is your separate property as it was a gift you received prior to the marriage. The wedding ring is marital property and will be subject to distribution.
As for the cars, they belong to your children and should not be counted in the “marital pot”. As for your car, if it was given to you, and not to you and your husband, it is also separate property.


#3

Thanks for your help


#4

You are welcome. I wish you the best moving forward.