For many divorcing couples, one of the most contentious aspects of this process is the division of marital assets, as there may be disputes over who technically owns what property. Unfortunately, this is especially common when there are gifts involved. As such, the following blog explores what you should know about how presents are divided during a divorce, including how presents are exchanged between spouses and the importance of consulting an experienced Tampa property division lawyer to assist you through this difficult time.
Are Gifts Subject to Division During a Florida Divorce?
When you are going through a divorce, it’s important to understand what assets will be subject to division during this process. Florida is an equitable distribution state, which means that marital assets, which are considered jointly owned by both spouses, are subject to division. However, these assets are not automatically divided evenly, but rather based on fairness. As such, you may find that assets are split in favor of one spouse based on the factors considered by the court.
It’s also necessary to understand that marital assets include any property obtained by either spouse during the course of the marriage, regardless of who technically owns it. However, gifts are treated differently because they are intended to be given to a person without anything in exchange. As such, most gifts in Florida are considered separate property, meaning the person to whom the item was given will retain it during a divorce.
However, in some instances, gifts that are gifted to both spouses will be deemed marital property and are thus subject to division. In some instances, gifts that are co-migled will also be subject to division. For example, if your spouse is gifted a car from their family, but you contribute to maintenance and insurance on the vehicle, the court would likely consider this marital property because of your contributions.
How Are Gifts Exchanged Between Spouses Treated?
However, gifts exchanged between spouses, such as jewelry, anniversary gifts, or birthday presents, can be trickier to navigate. Generally, the court will determine that personal gifts will be yours to keep, while gifts that are used by both spouses will be deemed marital property. For example, you may gift your spouse a watch that they can retain as theirs during the divorce. However, if you also gifted them a large television that you both yous and benefit from, the court may consider this marital property and divide its value.
Generally, if there is a dispute regarding how a gift should be classified, it’s important to understand the importance of working with an experienced attorney, as they can help you collect evidence to prove the item’s classification. For example, you may be able to find cards, notes, emails, or other documents that show the item was intended as a gift.
Navigating a divorce in which property division is a contested matter can be incredibly difficult. That is why it’s in your best interest to connect with an experienced attorney with Tampa Law Group. Our dedicated legal team understands how difficult going through a divorce can be, especially when there is uncertainty regarding who owns what property. As such, we will do everything in our power to assist you through these complex times. Contact us today to learn more.
