November 15, 2013. A “gift” is defined as the voluntary transfer of property to another without compensation. There is no gift when there is a condition attached. For example, a ring given in contemplation of marriage is a conditional gift. It is a completed gift only when the marriage occurs. If the marriage does not occur, the ring must be returned.
A gift is not considered marital property if the person receiving the gift can show that the intent of donor was to give it to the one spouse, the intended recipient must receive the gift and accept it. If these elements are shown, the gifted item will remain as the separate property of the spouse who received it and not subject to division during the divorce.
See my future blog on premarital property, and learn more about family law matters by contacting Goosmann Law at info@goosmannlaw.com or by calling 712.226.4000.