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My spouse and I are in the process of getting a divorce. We…

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My spouse and I...

My spouse and I are in the process of getting a divorce. We have a renup in place that stipulates what is hers is hers, what is mine is mine. That being said, earlier this year, she withdrew over $300,000 from a retirement account to pay down her bills, and gave me $50,000 to pay off mine. She is now wanting that money back, or for me to at least pay the taxes on the money she gave me. In all honesty, I'm fine with paying the taxes on the money. But what are my legal obligations?

Lawyer's Assistant: What steps have you taken? Have you filed any papers in family court?

Not yet

Lawyer's Assistant: Family law varies by state. What state are you in?

Maryland

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We own a house together. She got the loan with her VA loan, but we are both on the deed. She is suggesting that the money be deducted from my portion of the sale of the house. Which again, I'm fine with. However, I want to protect myself from being sued should the house not sell at a price that would cover the taxes from my portion of the sale. Hope that makes sense.

Submitted: 2 months ago.Category: Legal
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Answered in 3 minutes by:
5/25/2018
Lawyer: Barrister, Attorney replied 2 months ago
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 43,113
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply as I am an actual practicing attorney, not an employee of JustAnswer.

.

Did you ask for the money?

.

Was there an agreement for you to repay her?

.

.

thanks

Barrister

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Customer reply replied 2 months ago
no I did not ask for the money, and there was not agreement (written or verbal) regarding repayment
Lawyer: Barrister, Attorney replied 2 months ago

Ok, then this would be considered a gift and you would not be under any legal obligation to repay it.. There has to be an actual agreement to repay and she couldn't unilaterally impose one if you never came to that agreement..

.

.

thanks

Barrister

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Customer reply replied 2 months ago
As a gift, do I need to claim it on my taxes when I filenext year
Lawyer: Barrister, Attorney replied 2 months ago

No, there are no taxable consequences to the recipient of a gift..

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Lawyer: Barrister, Attorney replied 2 months ago

Hello again,

.

I just wanted to touch base with you and check in.

.

Did you have any further questions I can help with?

.

.

Thanks much

Barrister

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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