Business & Investment

I received a financial gift from my mother. I returned it to her five years ago.Now that we are divorced, my husband says half of that money belonged to him

Dear Moneyist,

I got a present from my mother a few years ago. She sent a fair amount of money to her bank account in my name alone. My husband persuaded me to add his name to my account a few months later. Money hasn’t been touched for several years. No transaction was made.

A few years after this gift was given, my husband raised a divorced ghost. At that time, I returned the balance to my mother in Europe. Now that I am divorced five years after repayment, I am about to become a former husband and my mother says that I have half that right. We live in California. Is he right?

Will be free soon

reference: Trump went to golf as a stimulus, and the defense spending bill remained in a hurry

Dear soon,

I won’t buy what your husband is trying to sell until the divorce court decides this or you give his / her opinion to your own attorney.

Under California law, gifts from a third party made to a particular spouse during marriage are not considered to be the property of the marriage or community. However, because you deposited money in a bank account under both names, the money was technically mixed and therefore changed from separate property to couple’s property. Given that this was the money in the joint account, you had the right to send the money back to your mother.

Of course, the ghost of divorce raises questions, and your husband can claim in the divorce court that you have been guilty of dissipating (or wasting) your marriage assets before your split. The divorce court may not look at such behavior kindly, take punitive action, and order you to recover your funds. However, this will probably have to be done in a way intended to hurt other spouses. Given the source of this money, it doesn’t seem to be the case here.

There is a worse example of wasting a couple’s money. “A cheating husband can pay for his girlfriend’s $ 5,000 / month luxury condo.” According to law firm Claery & Hammond.. “A vengeful wife can sell her husband’s $ 75,000 classic car for $ 1,000 on Craigslist. The husband can head to Las Vegas and blow $ 20,000 at gambling and strip clubs, or his wife. Can get a “mama’s makeover” before applying for a divorce. The possibilities are endless. “

Moneyist:My boyfriend’s ex-wife claimed that her two sons depended on her taxes and received their inspirational checks, but they live with us

You have another factor. Your marriage has survived for another five years. There may have been a happy time in the meantime, and some couples throw a “D-word” as they pass through the rocks. According to Ben Calasco, a lawyer in Austin, Texas: “Spouse discourages rewarding deals made long before the marriage collapses in order to gain an edge during the property split process.”

Carasco said the responsibility to prove that the transfer of the marital property was not eligible for waste is likely to rest with the party who transferred the property. But the timing of such transfers is also important, he says. “The court will focus on the time of the couple’s marriage, when it became clear that the marriage was at stake and that major transfers were taking place in anticipation of separation and divorce,” he writes. So it’s not as clear as your husband suggests.

To shorten a long story — too late! — Your husband seems to be using the same aggressive tactics that allowed him to add his name to your bank account.

Moneyist: I earned $ 100,000 in 2019, but much less in 2020. Why didn’t you get the stimulus check? How fair is it?

You can email TheMoneyist financial and ethical questions related to the coronavirus at qfottrell@marketwatch.com.

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I received a financial gift from my mother. I returned it to her five years ago.Now that we are divorced, my husband says half of that money belonged to him

http://www.marketwatch.com/news/story.asp?guid=%7BAE7FDC72-4988-11EB-B326-8630AA688048%7D&siteid=rss&rss=1 I received a financial gift from my mother. I returned it to her five years ago.Now that we are divorced, my husband says half of that money belonged to him

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