Legal Question in Family Law in California
I have been married for 18 years. My husband has mutual funds and 401k's under his name. What happens to those accounts if we were to divorce? We also have properties, one is paid for , my husbands parents names are on these properties, what happens to to these properties when they have never made a payment?
1 Answer from Attorneys
On the mutual funds and 401k's the name doesn't matter at all, it's where the funds came from. Earnings during the marriage belong to the community equally. So they will have to be divided. What happens to the properties will depend on a lot of details that you have not provided. What it boils down to, though, is if your husband has any right to claim the properties, and they were funded by earnings or assets acquired during the marriage, that claim to the properties belongs to the community too, and you are entitled to half whatever that claim is worth. If they were gifts to his parents, and not given to defraud creditors or the community, then they may be unreachable. Again, without sitting down and going over the relevants facts, circumstances and documents there is no way to really say anything conclusive about the properties.