Gifts received by a spouse during a marriage are the non-marital property of the spouse receiving the gift. A gift can be from one spouse to another or from someone outside of the marriage to one spouse . At divorce, each spouse keeps their non-marital property, including all gifts that were received during the marriage.
Generally, items purchased with marital funds are marital property. But this rule does not apply to gifts. Therefore, gifts, such as holiday gifts, even if they were purchased marital funds, are the non-marital property of the spouse receiving the gift. Also, wedding rings and engagement rings are gifts, provided the wedding actually happens and there is a marriage, and each spouse keeps their respective rings.
Identifying non-marital property is the first step in distributing marital property. Gifts from outside the marriage to a spouse, such as inheritance, are often identified. But gifts from one spouse to the other may be overlooked. It is critical to look at all property, and identify all gifts, so that marital property can be equitably divided.
The Botti Law Firm, P.C. has been practicing family law for nearly 50 years in DuPage and Cook County. Please contact one of our attorneys at (630)573-8585 if you have any questions or would like to schedule a free consultation.
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The Botti Law Firm, P.C., conveniently located in Oak Brook and Wheaton, is a full service law firm that offers comprehensive legal representation to individuals, families, businesses and professionals from the Chicago area, including Cook, Kane, DuPage, Lake, Will and Kendall Counties, to the rest of the United States. Our experienced trial attorneys are dedicated to obtaining successful results for our clients, in both state and federal courts.
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Contact the Botti Law Firm, P.C. to learn more about our different practice areas and how we can best address your legal concerns. Call (630) 573-8585 to speak with one of our attorneys.