
Top Things to Know About Gifts and Marital Property
by mrobbins | Jul 25, 2020 | Uncategorized |
When you are in the early stages of a Michigan divorce, or you are considering a divorce, it is important to understand how a divorce will affect your property. As you may already know, according to Michigan divorce law, property is divided according to the theory of equitable distribution. What does this mean for you? Both you and your spouse will be required to provide information to the court about all property you currently own, including all assets and debts. The court will determine which property should be classified as separate property (and not divided in the divorce), and which property should be classified as marital property (and divided as part of the divorce process). Once the court identifies all marital assets and debts, it will distribute them between the two spouses in a way that it decides is equitable or fair based on a variety of different factors.
There are various types of property that can pose complications in the process of property distribution, from commingled property to inheritances. One type of property that often gives rise to questions is the “gift.” If you received a gift prior to your marriage or during it, it is essential to understand how that gift will likely be classified. The following are some top things to know about gifts and marital property in your divorce.
Most Property Acquired Prior to the Date of Marriage is Separate Property
Most property, including gifts acquired prior to the date of the marriage, will be classified as separate property. Accordingly, any gifts you received prior to the date of marriage likely will not be subject to division. However, it is important to speak with a divorce lawyer in Michigan about gifts to the married couple that may have been received by only one of the spouses prior to the date of marriage. Such gifts could be classified as marital property and subject to division.
But what about gifts acquired during the marriage?
Gifts from Other People During the Marriage Will Not Usually be Classified as Marital Property
In general, gifts from a third-party (i.e., not one of the spouses) to one of the spouses during the marriage will almost always be classified as separate property and will not be subject to division. However, if a third-party gives a gift that seems like a gift to both spouses, then that gift ultimately could be classified as marital property. You should discuss the specific attributes of the gift with your divorce lawyer.
Gifts Given to One Spouse by the Other During the Marriage Will Likely be Marital Property
While third-party gifts are typically separate property, gifts purchased by one of the spouses during the marriage and given to the other spouse during the marriage will usually be classified as marital property. In most situations like these, the gift would have been purchased with funds that otherwise would have been classified as marital property. As such, the resulting gift will also likely be classified as marital property and subject to division.
Gifts can be Explicitly Excluded in a Valid Premarital or Postnuptial Agreement
You can also explicitly exclude gifts from the marital property through a valid premarital or postnuptial agreement. If you want to enter into this kind of contract with your spouse, you should seek advice from a family lawyer.
Contact a Michigan Divorce Attorney for Help
If you have questions or concerns about how a particular asset will be classified in your divorce, an experienced Michigan divorce attorney at our firm can assist you. Contact the Law Offices of Michael A. Robbins for more information.
Recent Posts
Archives
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- May 2016
- April 2016
- March 2016
- February 2016
- December 2015
- November 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- March 2015
- February 2015
Categories
RSS Feed
Let us help you

Contact The Firm
3910 Telegraph Road
Suite 200
Bloomfield Hills, MI 48302
Phone: 248-646-7980
Fax: 248-646-7989