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Gifts from One Spouse to the Other Are Marital Property Subject to Equitable Distribution

The Second Department noted that gifts given by one spouse to the other are marital property subject to equitable distribution:

Gifts given by one spouse to another during a marriage are marital property and, thus, are subject to equitable distribution … . Here, the defendant testified that, during the marriage, the plaintiff gave her a diamond ring valued at $16,900. The Supreme Court erred in failing to equitably distribute the value of that item. Accordingly, the plaintiff is entitled to a credit of $8,450 … . Smithie v Smithie, 2014 NY Slip Op 07647, 2nd Dept 11-12-14

 

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