Characterization of the Clippers For the purposes of this article I am assuming that: (1) funds used to acquire the Clippers in 1981 are not traceable to any of either's pre-martial separate property or gift/inheritance separate property, (2) the Sterlings have not expressly transmuted the character of the asset known as the Clippers, and (3) the Sterling Family Trust is like many, common family trusts in that the Clippers are held by the trust, Mr. and Ms. [read post]