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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 110445
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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My husband decided to file for divorse. we have been married

Customer Question

My husband decided to file for divorse. we have been married since 2011. We have two Children together 3 years old and 14 month old. I also have a 16 years old child. Recently I have opened an 529 account for my son and transfered money from my personal checking acc. to 529 acc. I also made a monetary gift to my son and put this money to his checking acc. Since we live in Houston TX will these money be considered a community property?
Thank you.
Submitted: 1 month ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Before you gave the money to your children, it was community property. Once you gift the money to your children, the money belongs to your children. It must stay in those accounts for the children under the uniform gift/trust to minors act. So whoever is named the guardian over the property of the children in the divorce would be trustee/guardian over those accounts and the funds can be used only for the specific needs of the children and not just for ordinary needs. The money in the account would be the children's money and no longer community property.

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