Legal Question in Family Law in California
My 401K vs Our 401K? I have a 401K that has money from two sources in it: a rollover from a previous employer's 401K plan, and contributions from my current employer. I've been married the whole time I've been with my current employer; I was not married during my employment with the rollover source. As I understand it, the proceeds from the rollover money are my separate property, and the proceeds from the rest are community property. If I leave my job, and we decide to take an early distribution (I know, I know...), can we take only the money that is ours together, leaving me with a 401K account that my separate property?
1 Answer from Attorneys
Unless you are contemplating divorce or do so later, this question really doesn't matter. If you are, you need to do a post-nuptual agreement on what is community and what is separate in that account and then get the money into two separate accounts and don't mix them again. Then you can draw from whatever account(s) you choose and you will know whether you are spending community or separate assets.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
