More details to this question:
My husband is giving me some feeling that he may want to divorce, he is so unclear. I have a savings account that he is not aware of with about $50,000 , can I start taking money out now, can I gift to my child, if so how much and do I need to notify the I.R.S., do I just pay it to her in a check, part of the money in the account is savings for her, she is an adult however I saved this money for her future and have never let her have any., This money was from an injury settlement before he and I married but Imnot sure I could prove that since before I put it in this account it was in a differnt account adn I dont have that information any longer.,
1 ANSWER
Family Law Attorney serving Salt Lake City, UT
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David R. Hartwig, Esq.
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If the money is from a personal injury settlement and if you have kept it in separate accounts throughout, then it is your money and should be awarded to you as yours by a divorce court.
As such, there is no reason to take it out, or give it to anyone. But if you want to gift it to anyone, I believe that if it is over $12,000 you have to file for taxes (check with your accountant).
Your situation involves major factual and procedural issues. These are issues that we can discuss. If you are interested in pursuing the matter further, I off an initial 1/4 hour consultation without charge, and a 1/2 hour consultation for $50. If you want to set an appointment for the initial consultation, feel free to telephone, or email, my office; if you are outside of the Salt Lake area, we can handle all of this by phone.
Don't wait any longer, give a call and let's getting working to protect your property.
David R. Hartwig
801-486-1715
drhlaw@ix.netcom.com
Answered on Aug 09th, 2017 at 11:46 AM