In a recent case involving legendary lead singer of the Four Seasons, Frankie Valli, the characterization of a simple life insurance policy was anything but simple. This case is a perfect example of how one innocent transaction by spouses can have far-reaching, dramatic results in the context of a divorce. By merely titling an asset in one spouse’s name, even without a specific intention to make such property the spouse’s separate property, the other spouse may effectively be making a gift of such property, even if the community pays for it!
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