GATELY v. GATELY (Appellate Division, 3rd Department)

Defendant-husband contends that the Trial Court erred in the equitable distribution of certain investment accounts, stock options, deferred compensation, and real property.  All property acquired during a marriage is generally defined as marital property.  An assertion of a separate property claim requires the party asserting the claim to “trace the source of the funds…with sufficient particularity to rebut the presumption that they were marital property.”  Here, the Appellate Court, after finding no abuse of discretion by the lower court, reaffirmed the decision because the defendant failed to meet the burden necessary to rebut the presumption.