Legal Question in Wills and Trusts in Indiana
My wife received an inheritance form her parents estate. She then used some of these monies to buy a fathers day gift for me. What is her legal position on this gift and what is the ownership status of the gift? Would she, by law, have any claim on said gift?
2 Answers from Attorneys
If she gave you a gift, the gift is yours, but it is still marital property for purposes of a dissolution of mariage, if that is what you are getting at.
When she gave you whatever it was, then it became a gift. Legally, she transferred ownership of the property to you. The same would apply to whatever gift(s) you may have bought for her over the years. She owns that property. However, in terms of a "marital estate," typically, it all becomes subject to the court for division. The law presumes a 50/50 ownership of all properties held by the parties, regardless of whose name it is in. So, even if you had a home and yours was the only name on it, the court would deem it as part of the marital estate.