Is spouse entitled to half my PREmarital IRA thru divorce.?

Question

Approximate value was $20000. It is now worth approximatly $70,000. I did not contribute to this fund while we were married because my spouse did not help me pay ANY bills. After 17 years of marriage we are divorcing. She claims the IRA is marital property and wants half. I say it was and is separate property.

Answer 1

NO, SHE"S NOT! She is only entitled to 1/2 of everything you have aquired while married, anything you had before the marriage she can't touch!!!!!!!!!!!!!!!!! In WV anyway, state laws vary though! GOOD LUCK! Fair is fair, it was yours before her, and should be after her!

Answer 2

Community Property law treats the IRA as being two separate parts,the part before marriage, and the part after marriage. The value of the IRA prior to marriage is certainly your separate asset.
However, wages earned during marriage are community assets,
and what that means is that any value accrued after marriage is also a community asset, since the asset keeps the character of the property used to acquire it. Even if the premiums were paid by the employer, it will be argued that the premiums came from your wages, and would lead to the above result.
Sorry, but thats the law.
Now, even you live in a non community property state, the tendency is to treat assets like these as quasi-comunity property.
What that means is that it is treated the same for purposes of dissolution.

Answer 3

She is not entitled to it... although her lawyer may try to make a case that since much of the value grew during your marriage she is entitled to half of the growth ($50,000). Make sure you have a good lawyer to protect your assets!

Answer 4

Not if you didnt pay into it when you were married