401k prior to marriage

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401k prior to marriage

Unread postby cando777 » Tue Mar 21, 2017 10:21 am

Hello
Looking for some insight here in regards to what is now an annuity in my name,it was a 401 k that i had prior to my marriage.This money was from a job that i moved on from in 1999, 4 years prior to me getting married. over the years i moved it around to different IRA accounts trying to maximize the gains, i never put in any contributions to this money at all since 1999 the only gains it has is interest, that it has gotten over the years, the value of it when i got married was 110,000 it is now worth 250,000 and we reside in nj.

My question is are the gains that i have on the money considered marital property from the 110,000 point on to be divided.From the information i have gathered because it was acquired before i got married the annuity money is separate property but what about the interest does it matter that we did not contribute to this fund during the marriage.

Thanks
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Re: 401k prior to marriage

Unread postby a dad » Tue Mar 21, 2017 11:00 am

Welcome.

With no co-mingling, it sounds like it should all be yours.

Surely start from the standpoint that it's all yours.
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Re: 401k prior to marriage

Unread postby JimRockford » Tue Mar 21, 2017 11:17 am

I know that different states have different rules as to the 401K itself and the associated gains. For example, In CA both the pre-marital amount and the gains on that amount would be yours.

What I don't know is even if assuming that one or both are yours in NJ, how the courts look at the community in regard to equitable distribution. In other words, are they inclined to compensate by awarding your ex a bigger share of the community since you walked away with more assets even though they were yours to begin with?
Deciding to go forward with a divorce is kind of like joining a brotherhood. However, it is a brotherhood that you really don't want to join.
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Re: 401k prior to marriage

Unread postby cando777 » Tue Mar 21, 2017 3:36 pm

Thank you

That is what i at least plan to do,go in on the premise that all of it is mine. we are going to mediate our divorce and i wanted to get a feel for how this would be handled. my wife has an active pension and a 401k the we are putting on the table that i should be entitled to, at least the portion that is from our marriage. we are going to use the numbers to negotiate me to buyout the house.

we will see what happens

Thanks again
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