403 b questions

[rolandofgilead]

I live in Texas. I have a 403b which I maintained about 7 years prior to my getting married last year. I have not contributed to the fund in over 6 years. In a divorce, would I be obligated to split this asset with an x-spouse.What is the name of your state (only U.S. law)?

 

[LdiJ]

I live in Texas. I have a 403b which I maintained about 7 years prior to my getting married last year. I have not contributed to the fund in over 6 years. In a divorce, would I be obligated to split this asset with an x-spouse.What is the name of your state (only U.S. law)?

No, you would not. It is not a marital asset its a premarital asset. Had you continued to put money into it during the marriage, then a portion of it would have been marital property, subject to division. However you did not do so, so it is not.

 

[dmcc10880]

Even though it's a separate asset and you haven't contributed to the 403b during your marriage, the gains and losses during the marriage could be community assets. Consult with your attorney or CPA.

 

[rolandofgilead]

another question

What is the name of your state (only U.S. law)? Texas.

I bought a home a year before I got married. I put 6,000 into the home by the time I got married. Since we have been together, I've put in about 2 years worth of mortgage payments. She hasn't contributed since we got married because of her pay in her current job. What would be the dividing set up upon divorce? Just curios. I wish I wasn't having to ask these questions.

 

[LdiJ]

What is the name of your state (only U.S. law)? Texas.

I bought a home a year before I got married. I put 6,000 into the home by the time I got married. Since we have been together, I've put in about 2 years worth of mortgage payments. She hasn't contributed since we got married because of her pay in her current job. What would be the dividing set up upon divorce? Just curios. I wish I wasn't having to ask these questions.

She would be entitled to 1/2 of the equity that accrued during the marriage. Since it doesn't sound like you have owned the home for very long, that won't be much.

 

[dmcc10880]

She would be entitled to 1/2 of the equity that accrued during the marriage. Since it doesn't sound like you have owned the home for very long, that won't be much.

If any in today's real estate market.

 

[mistoffolees]

I live in Texas. I have a 403b which I maintained about 7 years prior to my getting married last year. I have not contributed to the fund in over 6 years. In a divorce, would I be obligated to split this asset with an x-spouse.What is the name of your state (only U.S. law)?

No. As long as you don't mingle any marital funds into the account, it should remain separate property.

 

[rolandofgilead]

Thank You everyone

for everything