Legal Question in Family Law in California
Monies Earned From Pre Inheritance Gift
My husband and I have been married 29 years. During our marriage my husband received a small $1500.00 early inheritance gift from his uncle. It was put in a mutual fund in my husbands name. Since he received the gift about 5 years ago the mutual fund has grown to almost $10,000. Now, years later, we are divorcing. I live in a community property state. Am I entitled to half the earnings less the initial gifted amount since it was earned during the time we were married?
2 Answers from Attorneys
Re: Monies Earned From Pre Inheritance Gift
typically, an inheritance is the sole separate property of the spouse who received the gift. however, sometimes the status of this property can change based on the intent and conduct of both spouses in respect to said inheritance. if you can tell me more or less how both of you "intended" to treat this inheritance gift when it was received and/or thereafter, i can further apprise you of your legal rights to any applicable community property interest therein.
Re: Monies Earned From Pre Inheritance Gift
If the gift was received in the last 5 years, its status as separate property can be changed only by a written document which specifically states the the status is changed.
Also the amount you are concerned is only $15,000. The attorney fees involved in attempting to obtain an interest in that property will quickly deplete it. You could end up paying more for the attorney than you receive.
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