Why Gifts Given During Marriage May Not Be Yours to Keep in a Divorce
Though it may seem unfair, gifts given to you during your marriage may not be considered yours alone in a divorce. The laws surrounding the division of property can be confusing, and it's important to understand how they may affect you before you find yourself in the middle of a divorce. Here's what you need to know about gifts given during marriage and divorce.
In general, any property acquired during the marriage is considered marital property and is subject to division in a divorce. However, there are some exceptions to this rule. One of those exceptions is gifts. Gifts given to either spouse during the marriage are typically considered the sole property of that spouse and are not subject to division in a divorce.
However, there are some instances in which gifts given during the marriage may be considered marital property. For example, if a gift was given with the intention that it would be used by both spouses or for the benefit of the marriage, it may be considered marital property. Additionally, if a gift was given to one spouse but was paid for with joint funds, it may also be considered marital property.
If you're getting divorced and you're concerned about gifts given to you during your marriage, it's important to speak with an experienced attorney who can help you understand how the law may apply in your specific situation.
Though gifts given during marriage are typically considered the sole property of the recipient, there are some instances in which they may be subject to division in a divorce. If you're getting divorced and you have concerns about gifts given to you during your marriage, be sure to speak with an experienced attorney who can help you understand how the law may apply in your specific situation.
Comments