Yesterday at noon, I asked the mediator my wife and I have been using for our divorce to go ahead and file. The divorce is amicable and we have already agreed on our settlement, the kids, the pets, pretty much everything. So far, not even an argument over who gets what. at 3:30, my father called me and told me that he sold a property, and he wanted to give me $40,000 once the divorce is finalized. The papers are going to be filed with the courts this morning. Do I tell her, knowing it is my parent's money, and that she is not due any? Am I obligated to share this with her? What are my legal responsibilities?
Answer
The gift that your father intends to give to you is your separate property. Your wife is not entitled to any portion of those monies however, she's entitled to know about the money. You have a fiduciary responsibility to disclose both community and separate property as you go through this divorce process.
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