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I have been married less than a year and filed for divorce when we were only married 6 months. I already had a 401k that was divided into 2 funds, the larger fund I made no contributions to since we were married. The balance in this fund has increased because the value of the stocks have increased. I can show that all contributions made to my 401k during the marriage went to the other fund. My question is whether the increase in both funds will be considered community property. Thanks!
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Wills and Estate Planning Attorney serving Sugar Land, TX
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Unless you and your spouse executed a premarital agreement stating otherwise, all income earned during the marriage is presumed to be community property in Texas unless you have evidence suggesting that it was a gift, inheritance, or otherwise your separate property. So, yes the funds in your 401k would likely be considered community property subject to division in a divorce.
Answered on Jul 16th, 2014 at 8:29 AM