New marriage in Calif do existing retirement accounts become community property?

[tingtong]

California. I'm retired and no longer contributing to my IRA or ROTH retirement accounts. If I now marry does any increase in value of those accounts from dividends and/or increase in stock value during the marriage become community property?
Are mutual funds treated the same way?

 

[LdiJ]

California. I'm retired and no longer contributing to my IRA or ROTH retirement accounts. If I now marry does any increase in value of those accounts from dividends and/or increase in stock value during the marriage become community property?
Are mutual funds treated the same way?

I believe the answer to that is no. It is a premarital asset that you will not be adding any community/marital property to during your marriage. However, you had best confirm that with a local attorney.

 

[Zigner]

I would suggest that you look in to a prenuptial agreement as well.

 

[adjusterjack]

Earnings and distributions during the marriage may be community property. Check on that with a pro if it concerns you.

 

[zddoodah]

does any increase in value of those accounts from dividends and/or increase in stock value during the marriage become community property?

No (unless you do something to alter the character of the accounts). See Family Code section 770(a).

Are mutual funds treated the same way?

Yes.

 

[tingtong]

Thanks for all the above replies.

I don't know if retirement accounts qualify as property but I do have rental properties so it looks like this would apply to them at least:

770.
(a) Separate property of a married person includes all of the following:

(1) All property owned by the person before marriage.
(3) The rents, issues, and profits of the property described in this section.

 

[LdiJ]

Thanks for all the above replies.

I don't know if retirement accounts qualify as property but I do have rental properties so it looks like this would apply to them at least:

770.
(a) Separate property of a married person includes all of the following:

(1) All property owned by the person before marriage.
(3) The rents, issues, and profits of the property described in this section.

Number 1 "All property owned by the person before marriage" would include retirement accounts.

 

[zddoodah]

I don't know if retirement accounts qualify as property

They do (why else would I have cited section 770?).

You seem to be equating "property" with "real property." "Property" is anything of value. Your home is property. Your vacant land in the Lake Tahoe area is property. Your car is property. Your jewelry is property. Your clothing is property. "Real property" is land and structures permanently affixed to the land. All other property is "personal property."

 

[tingtong]

They do (why else would I have cited section 770?).

You seem to be equating "property" with "real property." "Property" is anything of value. Your home is property. Your vacant land in the Lake Tahoe area is property. Your car is property. Your jewelry is property. Your clothing is property. "Real property" is land and structures permanently affixed to the land. All other property is "personal property."

Thanks for explaining it.