Do I have to split my pre-marital IRA with my soon to be ex-spouse?
This week’s question: Do I have to split my pre-marital IRA with my soon to be ex-spouse?
QUESTION: My husband and I have are going through a divorce. Before we were married, I had an IRA that I contributed to every year. I have not contributed any money to that IRA since we got married and have not done anything else with it either. My husband says that he gets half, is that true?
ANSWER: It depends. Based on the facts you have given me, it appears that the IRA is all pre-marital money and that you have not actively managed that asset since your marriage. Generally, each party gets to keep their pre-marital assets. However, a court may invade pre-marital assets depending on the facts of the individual case. An attorney can help you to determine your chances of retaining the asset and can help you present your argument to thecourt that the asset should not be split.
The lawyers at GWINN TAURIAINEN PLLC are experienced attorneys and are happy to answer your questions. Give us a call for a free initial telephone consultation about your legal needs. For consideration of your questions in our web column, please submit your inquiry on the “Contact Us” page of our website at www.gwinntauriainenlaw.com.
ASK THE LAWYER By: Daniel A. Gwinn, Esq. Attorney and Counselor at Law
This week’s question: Do I have to split my pre-marital IRA with my soon to be ex-spouse?