Gift to spouse


#1

My spouse transferred some of his investments to me into an account created in my name only. He told the financial advisor it was my account only, under my complete control. His name not on account. That was 4 years ago. We are now separating. I didn’t include it as marital property, spouse contends it is marital even though it was gifted to me alone and he has had no control over it since he gave it to me. What is correct? Is it separate property? How can it be marital since it was gifted to me completely?


#2

Whether or not this is marital property is ultimately going to be a question for the judge. Your spouse will argue it was a gift to the marriage and you will argue otherwise. Facts that strengthen your case are that the account was titled in your name only, that he told the advisor that he was giving it to you, and that neither of you have removed money from the account during the marriage. In order to succeed you will have to prove to the judge that this was a gift to you and not a gift to the marriage.