Gifts from children
I live in Louisiana.
I have been married for eight years. I am 72 and my husband is 76 yrs old. Our first mates are deceased.
I provide well over half of our income from my SS and from my first husband's pension, although my husband has cash and property that amounts to about $600,000.00 and he also gets his Social Security. I own no property but do have two CDs that are worth $90,000.00.
My children often buys me lottery tickets. They have been wondering if by chance I should win the lottery, if the money would become community property and my husband could claim half of it or would it be mine alone to share and do with as I would want.
This is just a hypothetical question but one that we have been concerned about.
Thanks for your answer.
1 Answer from Attorneys
Re: Gifts from children
There is a strong presumption that any assets acquired during marriage are community property. The most common exceptions are inheritances and gifts.
If one of your children gave you a lottery ticket and it won, you could claim that it was a gift, and that the proceeds were your separate property.
I've never heard of something like this happening, though. If it does, contact an attorney immediately.
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