Legal Question in Family Law in California
Assets prior to marriage
I contribute to Roth IRA for my single son. He is getting married in June if I continue contributing to the ROTH IRA every year (based on the rules) in his name after he is married, will this become community property in the event of a divorce? I am lead to believe that the account prior to marriage is not considered community property.
2 Answers from Attorneys
Re: Assets prior to marriage
As a gift from you to him, it will be his separate property even after marriage.
Re: Assets prior to marriage
A gift is separate property. However, if the gift is comingled with community property then a difficult tracing problem can be created. Check with your CPA about how you can donate keep the money you are gifting to your son in a separate account, or in some other manner kept separate from any community property that he sets aside for retirement.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
