Legal Question in Family Law in California
repaid me my money, his IRA not yet divorced,am I liable 4-1/2 taxes
I received an inheratance my Husband took $2500 of my money every year, put it into his IRA until he had it all. I insisted he give it back, he did slowly $5000 a year & I had to pay the penalties and taxes every year. In 2000 he gave the rest to me in a lump sum $17000. Made me agree but not in writing that I would pay penalties and taxes. I was not living with him and bought a house, he signed quit/claim. Am I liable for half the taxes,I have not lived with him for over a year? He made $43000 last year, way more than he ever did with me, saying that he owes $8500 on it. I supported him and kids. I want a divorce but funds are limited.
1 Answer from Attorneys
Re: repaid me my money, his IRA not yet divorced,am I liable 4-1/2 taxes
Dear Inquirer:
Nothing herein shall create an attorney-client
relationship, unless a written retainer agreement
is executed by the attorney and client. This
communication contains general information only.
Nothing herein shall constitute an attorney-client
communication nor legal advice. There likely are
deadlines and time-limits associated with your
case; you should contact an attorney of your
choice for legal advice specific to your personal
situation, at once.
If you haven't already done so, please visit my
web site at --
http://home.pacbell.net/edbjr/ OR
http://www.CaliforniaDivorceAttorney.com
The site contains quite a bit of general
information about California Family Law, as well
as information about me (education, experience,
et cetera) and my office (location, hours, fees,
policies).
NOW, IN RESPONSE TO YOUR INQUIRY --
The facts that you have provided are not clear
enough and/or complete enough to provide a
definitive answer to you inquiry. Income, assets,
and debts accumulated during marriage are usually
community property/obligations (in CA). So each
party owns half and owes half. However, inheritances
usually are separate property unless they are
comingled. To prove or disprove comingling you
need to trace and characterize all the
transactions one by one, and figure out who owns
how much and who owes how much. You need the
help of a lawyer or an accountant who understands
community property laws.
Thanks for sharing your interesting inquiry with
us on LawGuru, and good luck with your case.