Both spouses can share in gift from husband’s family

A recent South Dakota case makes clear that a gift to a married couple from one spouse’s family will count as a gift to both of them in the event of a divorce, even if the benefactor later claims he or she intended otherwise The case revolved around South Dakota land that had been in Dennis Ryland’s family since 1878, when his great-grandfather homesteaded it. Ryland had only one child, who had moved away from South Dakota and had no interest in coming back to farm the land. In 2006, when the farm was worth nearly $2 million, Ryland decided
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Ex-wife can ‘claw back’ millions in hidden assets

When marriages go bad, feelings can be raw, making it tempting to want to hide assets to punish your soon-to-be ex. But if you get caught, the consequences can be severe, as a recent case shows us. The couple in the case, Robert and Janet Foisie, decided to divorce in 2010. They went to mediation, where they agreed to fully disclose and equally divide their assets. Robert also allegedly told Janet during mediation that he had no “offshore assets.” A year later, after both spouses had allegedly fully disclosed their assets in a Connecticut family court, they executed a divorce
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