Legal Question in Family Law in California
is a legal to move $6k/month from existing 401k to a separate account not in the spouse's name?
Asked on 11/05/12, 12:35 pm
2 Answers from Attorneys
Phillip D. Wheeler, Esq.
Phillip D. Wheeler, Attorney At Law
Not in California. 50 percent belongs to her. It is community property.
Answered on 11/05/12, 4:03 pm
Mr. Wheeler is wrong. He is right that if it is money from earnings during the marriage, or gains on such earnings, it is community property, but that does NOT make it illegal to move it around anywhere either spouse wants. Now what they DO with it may raise issues, and if there is a divorce proceeding pending, it would probably be a violation of the automatic restraining orders, but during a marriage either spouse can move community assets around at will.
Answered on 11/05/12, 4:17 pm
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