Divorce is often a complex and emotionally draining process, involving many relevant issues like alimony, child custody and support, and property division. Deciding who gets to keep what after the relationship ends is one of the most highly contentious topics in the divorce process. If you are concerned about whether or not you can keep the gifts you received during your marriage it is important to stay up to date on your rights and legal responsibilities during your divorce. Contact a Memphis, Tennessee property division lawyer for more information and to obtain representation during your divorce case.
Are Gifts Considered Marital Property in Tennessee?
Tennessee is an equitable distribution state, meaning that assets acquired by either spouse during the marriage will be divided fairly among the spouses during a divorce. However, classifying property is important in determining who gets to keep what.
Property can be classified as either marital or separate. Marital property includes assets obtained during the marriage while separate property can be anything owned by one spouse before the marriage or that was acquired by one spouse as a gift or inheritance.
Gifts received by one spouse during the marriage have the potential to be considered separate property but certain conditions and criteria must be met to ensure ownership remains separate.
Can I Keep Gifts Received During My Marriage in my Divorce?
According to Tennessee law, whether or not you can keep a gift received during your marriage depends on the circumstances surrounding the item and whether it is considered jointly or separately owned.
Tennesse property division laws state that gifts you acquired alone either before or during the marriage belong to you and are considered separate property. This includes gifts your spouse gave to you, assets you inherited, or gifts given to you by friends or relatives. If your gift is classified by the court as separate property then you are entitled to keep it after the divorce.
However, it is important that you have clear documentation establishing that the item was a gift to only you. If it is determined that the “gift” was purchased or acquired with marital funds or given to both you and your spouse equally, it will be considered marital property and subject to equitable distribution. Clear documentation can include receipts, cards, statements, deeds, title documents, and more.
Can a Gift Become Marital Property?
If you want to keep a gift after your marriage it is also important to keep in mind that separate assets can potentially morph into marital assets over time. For example, if the gift was money and you deposited it into an account that also has your spouse’s name on it or you use the money to purchase something for both you and your spouse, it will be considered joint.
If the gift was a piece of property and you put your spouse’s name on it, a court could also consider it marital property. Regardless of the type of item the gift is, if you use marital funds to pay taxes on it, maintain it, improve it, etc. it could be considered joint property and be subject to distribution between you and your spouse.
Property division laws can be complex so it is always recommended to consult with a skilled attorney during your divorce.
