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Uploaded on Feb 16, 2011
Q: My parents, by way of estate planning, give me $11,000 per year. Is my husband entitled to this money?
A: It depends. Gifts by third parties, including your parents, if they were meant to be given only to you, can be exempt from equitable distribution but they have to be kept in separate accounts so as Richard was saying, if it's co-mingled, which means if it's put into a joint account, then it may be subject to equitable distribution. If you kept it in your name alone and it was intended only as a gift for you, then it is likely that it is your money.