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Is child support supposed to be used to buy gifts for other childrens birthdays. My children get invited to a ton of birthday parties and i end up buying gift after gift....

gift tax My mother want's to gift me 101,000.000 to buy a home. i will be getting a morgage for...

Can a trust "gift" money to individuals similar to that of parents gifting $ to children? I know i can "gift" money to children without taxes owed. can a trust gift money...

Deed of gift Years ago i deeded my property to my 4 children. recently, i decided to redeem the property...

gift taxes I gave monetary gifts to my children this year. a total of $5,000 to each of them. can i...

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Question

Submitted 575 days ago...

Nigher289

New User (4)

Can I buy my children a gift

My divorce has been on going for some time now and I would like to buy my son a dirt bike. We have yet to finalize our personal financial statements so if I make the perchase will I have to claim this as part of my personal property and have to give my spouse half the purchase price back in the final settlement. I was planning on making this purchase before my spouse decided she wanted a divorce and now she is against me buying this, is there anything she can do about it?

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Answer 1 / 3 - Submitted 575 days ago...

Nigher289

New User (4)

I live in Iowa if this makes any differece

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Answer 2 / 3 - Submitted 575 days ago...

primetime001

Professor (1,021)

She can't really stop you from buying the bike. Losing some control is one of the difficulties of going through a divorce.

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Answer 3 / 3 - Submitted 574 days ago...

pnaypleazer

Authority (351)

If your assets are frozen right now. Then you cannot gift away your money. If you havnt had your assets frozen yet...Start spreading it around.. you know whats coming so do it.

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