Commingled property refers to assets that were originally owned by one spouse alone but have been mixed with marital assets over the course of the marriage. For example, you might have had a savings account before marriage that later received deposits from both spouses’ earnings or a home you owned that was later upgraded using joint income.
It’s something that can complicate the property division phase of a divorce, and it helps to anticipate such challenges during the process. Here is what you need to know about commingled assets in Nebraska.
The law in Nebraska
Once separate assets are blended with marital assets and there’s no clear paper trail showing what came from where, they may lose their original identity in the eyes of the court. In other words, judges will typically treat such assets as marital property during division, potentially changing the outcome of your divorce settlement. You might have to split assets you acquired before the marriage simply because they are no longer distinguishable from marital property.
Protecting your interests
If you have an issue with a commingled asset, it’s up to you to show the court that a portion of the asset in question belongs to you as an individual. This often involves providing evidence, such as bank records, financial statements and inheritance paperwork or other relevant documents.
In some cases where it’s difficult to untangle separate and marital interests in a commingled asset, expert testimony or financial analysis may be necessary to sort out the mix.
Dividing commingled property isn’t always straightforward, and every situation has its own unique challenges. Having qualified legal support early puts you in a stronger position to avoid costly missteps and present a solid case to the court.
