Legal Question in Family Law in California
Question getting divorce on IRA accounts
Have been married eight years seven months
I had this account prior to be getting married
Is this account divided up by the years I was married another words how much profit-making between that time or the full amount
Thank you for all yourhelp
1 Answer from Attorneys
The accounting can get complicated but the legal principals are simple. Balance in the account on date of marriage plus returns or less losses is separate property. Deposits to the account after date of separation without intent to resume the marital community plus returns/minus losses is separate property. Those two amounts are yours alone. Deposits to the account during marriage +/- returns/losses are community property divided 50/50. Although you may get all of it if your spouse is given offsetting assets or you take on more community debt, so that in the end the assets and debts wind up with each getting 50% of the net value.