QUESTION
Are the company matching funds a community property in California?
Asked on Oct 06th, 2012 on Divorce - California
More details to this question:
I contribute to a 401K plan at my company. The company matches a portion of those contributions.
10 ANSWERS
Divorce/Family Law Attorney serving Carlsbad, CA
at
Anne B. Howard, A Professional Law Corporation
Update Your Profile
Yes they are community earned during the marriage just like your salary.
Answered on Jun 27th, 2013 at 12:12 AM
Alternative Dispute Resolution Attorney serving Ventura, CA
at
Zahn Law Office
Update Your Profile
Yes.
Answered on May 21st, 2013 at 3:05 AM
Criminal Law Attorney serving Fremont, CA
at
Steven J. Alpers, A Professional Corporation
Update Your Profile
The 401k account should be divided 50-50.
Answered on Oct 16th, 2012 at 4:18 PM
All employment benefits received during the marriage are community property.
Answered on Oct 09th, 2012 at 8:50 PM
Family Law Attorney serving Temecula, CA
at
Landon Rainwater Robinson LLP
Update Your Profile
All sources of income from employment are deemed community property therefore, whatever the value of your 401k from date of marriage to date of separation is community property.
Answered on Oct 09th, 2012 at 8:48 PM
Family Law Attorney serving San Rafael, CA
at
Warren Law Group PC
Update Your Profile
Without examining the 401(k) related documents I would not make a firm statement of advice. However, any income during the marriage is community property irrespective of the form in which the income is paid. It would seem the company matching funds are community property.
Answered on Oct 09th, 2012 at 4:12 PM
Yes. The rationale is that all assets earned during marriage by either spouse are the community property of both spouses. The employer contribution is part of your compensation, just as salary and benefits are part of compensation. It is traded for your time and effort. When you marry and live in a community property state (regardless of where you married) like California, your time is no longer your own. Everything you do and everything your spouse does belongs to both of you. The only exceptions are VA disability, Social Security and certain other federal benefits. That is because these are federal benefits not subject to state law allocation Military retirement is different because Congress explicitly said so.
Answered on Oct 09th, 2012 at 4:09 PM
Whatever belongs to you and was earned as a result of your efforts during marriage is community property. Yes.
Answered on Oct 09th, 2012 at 4:03 PM
Personal Injury Attorney serving Upland, CA
at
Lee Brown & Associates
Update Your Profile
Yes, so long as you are (1) not separated (2) you do not have a valid written agreement with your spouse that states otherwise.
Answered on Oct 09th, 2012 at 3:59 PM
Michael Paul Vollandt
The vested amount is community property.
Answered on Oct 09th, 2012 at 2:56 PM