Generally, Iowa law states that gifts and inheritance a divorcing spouse received before or during the course of the marriage are considered separate property of the person who received them and will be treated as his or her separate property. Consequently, said gifted or inherited property in this scenario would not be categorized as “marital assets” subject to equitable division in the divorce case. There is, however, an exception to this rule that allows a […]
Part II: Property in Your Divorce, Treatment of Gifts and Inheritances
By Simpson Legal Group LLC Nov 19, 2020 Posted in Articles