Gifts, Marital Property and Divorce

Frances Bean Cobain’s now ex-husband says she gave him her father Kurt Cobain’s iconic guitar from the “Unplugged” album as a gift. She says he shouldn’t get to keep it in the divorce, but he did. Why? Jodi and Shannon from Terzich and Ort stopped by to explain how it works in Minnesota.

Essentially, once the guitar was given as a gift it became marital property. And marital property is divided equally between spouses in a divorce. So if the guitar was worth a million dollars, she should have gotten something worth an equal amount in the divorce. It’s possible it was used as a bargaining chip so Frances wouldn’t have to pay spousal support.

If you have questions about divorce, contact Terzich and Ort in Maple Grove. Click here for their information.

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