Legal Question in Family Law in Texas
Gift or community property?
1. My husbend has his name on his mother's account we give her daily care as well as provide her with a home. He used the debit card for all purchases including our family's needs, Is the account community property?
2. Are the items purchased community property or gifts from her?
3. If she invests in a new business we start-- is the business and all assets acossiated w/ business community property or gifts? She would be the only one investing?
How would that work out in a divorce?
1 Answer from Attorneys
Re: Gift or community property?
Bluntly you are creating a legal nightmare. By commingling these funds it will take an accountant to separate the funds. Additionally, you and your husband are setting yourselves up for allegations of fraud/deception/theft from his mother. I strongly recommend that you straighten out and separate these accounts. A gift to your husband is his separate property -- but that is his burden to prove. The investment terms by the mom will have to be established. It is wide open to claims of gift/loan/partnership. If you are considering a divorce, why risk your assets in a business at this point?
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