Which portion of my IRA and/or Roth IRA is considered marital property, if at all?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Which portion of my IRA and/or Roth IRA is considered marital property, if at all?
I have a rollover IRA with 200k and a RothIRA with 50k. I have not made any contributions to either account for 13 yeras. I was married 7 years ago, the value of the rollover IRA at time of marriage was 210k but there was no Roth IRA. Then 2 years later , the rollover IRA grew to 260k and decided to do a 60k Roth IRA conversion. A month after that, I took a distribution of 10k (with 10% penalty) and transfered it into my individual bank account, in my name only, which I have owned since before the marriage. The account was used to pay bills and make purchases over the years but now it is idle.
Asked on April 4, 2012 under Family Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Your question is a major law school question. If the IRA and Roth IRA were in your name before you married, and you never contributed any money to it during your marriage, then the two accounts are your separate property assuming only your name is listed on both of the accounts.
Since you have not made any contributions to the two accounts for 13 years and you were married 7 years ago, the two accounts would seem to be your own separate property assuming the accounts are in your name alone as separate property.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.