Gift Giving Tips for the Holidays from a Divorce Attorney

As an experienced divorce attorney, I have spent a considerable amount of time dividing couples' personal belongings (and financial contributions) at the end of their marriage. This includes gifts from family and friends. Here are some basic tips to consider that could save a lot of heartache and frustration down the road for your loved ones:

• While gifts and inheritances are generally not subject to division in the event of divorce, the water becomes muddied when the gift or inheritance is given to two people or the couple together.
• Family heirlooms (i.e. Grandmother' china or priceless art) should be specifically given to the family member with a detailed note.
• Money gifts should be specifically designated as either gifts or loans to prevent confusion at a later time.
• Loans should be properly documented--contact an attorney if necessary to draft a loan document.
• Money gifts should be designated for the proper recipient.
• Tax limitations of financial gifts should be considered-- contact your CPA.

The spirit of giving is all around us and there is no better feeling than thoughtful giving.