I received a financial gift from my mother. I returned it 5 years ago. Now that we are divorcing, my husband says that half of that money was his

Dear Manishi,

I received a gift from my mother many years ago. He only transferred sufficient funds to a bank account in my name. My husband persuaded me to add my name to the account several months later. Money was not touched for many years. There was no transaction.

Several years after this gift was made, my husband raised an audience for divorce. At that time, I returned the remaining amount to my mother in Europe. Now that we are going through a divorce after 5 years of returning the money, my soon-to-be ex-husband says that he has the right to give half of that money to my mother. We live in California. Is that correct?

Soon to be free

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Dear Soon,

Unless a divorce court rules on this or you have your own lawyer, giving their opinion, I am not buying what your husband is trying to sell.

Under California law, gifts received during marriage to a third party specifically given to a spouse are not considered marital or community property. However, you deposited the funds in the bank account under both of your names, so this money was technically co-mingled and as such, separated from the marital property. Given that it was money in a joint account, you had every right to send the money back to your mother.

The specter of divorce raises questions, of course, and your husband may argue in divorce court that you were guilty of dissipation (or wandering) of marital property in front of your partition. A divorce court will not pity such behavior and may take punitive action, and may order you to reinstate the funds. But it should probably be done in a way that was intended to injure the other husband. Given the perfection of this wealth, it does not appear here.

More examples of wasting marital funds are: “A cheating husband can pay for his girlfriend’s $ 5,000 a month luxury apartment,” According to the law firm and Hammond. “A vengeful wife can sell her husband’s $ 75,000 classic car on Craigslist for $ 1,000. A husband can go to Las Vegas and blow $ 20,000 at gambling and strip clubs, or a wife can get a ‘mummy makeover’ before filing for divorce. the possibilities are endless.”

Rich:My boyfriend’s ex-wife claimed her 2 sons as dependents on her taxes, and received her incentive checks, but they live with us

There is one more factor in your favor: your marriage lasted an additional five years. There may be a time of happiness during that period, and some couples throw a “D-word” through a rocky patch. According to Ben Carrasco, a lawyer in Austin, Texas: “Spouses are discouraged from challenging transactions before the marriage breaks up in an attempt to gain benefits during the property division process.”

Carvasco stated that the onus of proving that the marital assets were not transferable was due to the party wasting the transfer of the assets. But he says that the timing of any such transfer is also important: “The courts will focus on the time in the couple’s marriage when it becomes clear that the marriage was in jeopardy and any major transfers can be made in anticipation of separation and divorce.” “” He writes. So it is not quite clear as your husband suggests.

To make a long story short – too late! – Your husband appears using the same aggressive tactics that enabled him to add his name to your bank account.

Rich: I made $ 100,000 in 2019, but much less in 2020. Why did I not receive the incentive check? How is this fair?

You can email Dhanwan at [email protected] with any financial and ethical questions related to coronavirus

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