Legal Question in Investment Law in California
retirement accounts
is a 403b retirement acct. and sep ira acct. considered community property?
1 Answer from Attorneys
Re: retirement accounts
The name indicating the kind of account, e.g., "403b," is not what determines whether the money in it is separate property or community property. The general rule is that a family law court will look to the source of the money or other value contained in the account. To the extent the value in an account can be traced to community sources, it will be treated as community property. Income from wages, salaries, bonuses, commissions of a married person during marriage is community property. So is the increase in value of a married person's business, even if originally separate property, to the extent the value grew due to the owner's personal services while married. If you want details, ask your question again under a LawGuru "Family Law" "Community Property" or "Marriage and Divorce" heading. (I'm not sure what LawGuru calls its categories in that area).