Gifting to Adult Children

[Anonymous]

Anonymous wrote:Are gifts from parents to married child considered marital asset? Only inheritance is exempted correct?

If your kid keeps it in their name only, it should be safe. Once it hits a JT account, it's marital property.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are gifts from parents to married child considered marital asset? Only inheritance is exempted correct?

If your kid keeps it in their name only, it should be safe. Once it hits a JT account, it's marital property.

If you want to worry about this, you need a comprehensive estate plan and a pre/post nup. You don’t want to rely on the default rules for cash gifts.

[Anonymous]

Anonymous wrote:Giving. The verb is GIVE!

Thank you, PP. There a special place in heaven for you.

- a fellow traveler

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are gifts from parents to married child considered marital asset? Only inheritance is exempted correct?

If your kid keeps it in their name only, it should be safe. Once it hits a JT account, it's marital property.

I don't think it's as simple as that.. If the other spouse claims it's all marital property, 10 years down the road, you'll have to prove that the source of the money and documented intent behind that gift as given to you vs both of you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Giving. The verb is GIVE!

Thank you, PP. There a special place in heaven for you.

- a fellow traveler

https://www.merriam-webster.com/grammar/gift-as-a-verb

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Giving. The verb is GIVE!

Thank you, PP. There a special place in heaven for you.

- a fellow traveler

https://www.merriam-webster.com/grammar/gift-as-a-verb

Thank you, I appreciate you.