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P. Simmons
P. Simmons, Lawyer
Category: Family Law
Satisfied Customers: 35013
Experience:  16 yrs. of experience including family law.
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My husband has an IRA that was rolled over from a 401K from

Customer Question

My husband has an IRA that was rolled over from a 401K from a previous employer. The contributions to the 401K happened previous and during marriage. I know that the funds can be traced to find out what the balance was at the time of marriage. I know I
am entitled to half of the contribution during marriage but I was also told that the total interest from the account from marriage is considered marital property. Is that correct?
Submitted: 2 years ago.
Category: Family Law
Expert:  P. Simmons replied 2 years ago.
My name is***** have over 16 years experience in the law. Should you like to chat on the phone I am happy to for a nominal cost. Let me know at any time during our question and answer session if you are interested I am happy to give you more details.
Arizona is a community property state for division of marital estate during divorce. Because of this, all income earned during the marriage as well as any interest or gains from that income are considered community property.
So any interest or gains that can be attributed to the IRA deposits during your marriage would be considered community property and therefore divided equally between the two of you.
Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
Customer: replied 2 years ago.
Since the IRA has both separate property and martial property, is the interest gained on the entire IRA since marriage considered marital property or will we need to try and determine how much interest is on the contribution prior(separate property) to marriage and during marriage (marital property)?
Expert:  P. Simmons replied 2 years ago.
The court will expect you determine which gains are associated with the money deposited DURING the marriage.