questions & answers
Question: My husband took money out of his gross wages. It is now in his IRA. Our CPA said that it is still partially mine, because he earned the money while we were married. Is my CPA correct?
Answer: Arizona Revised Statutes, Section 25-211 states: "All property acquired by either husband or wife during the marriage is the community property of the husband and wife except for property that is: 1. Acquired by gift, devise or descent; 2. Acquired after service of a petition for dissolution of marriage . . . ." Was the money earned before the petition for dissolution was filed? If so, it is definitely community property. You may want to discuss this with a lawyer. If you do not have an attorney representing you in the divorce, it would be wise to at least consult one on this issue. There are 3 programs in Arizona that you can use to get some inexpensive legal advice and guidance. One is the Modest Means Program. If you are financially qualified for the program, for a $75 fee, Modest Means offers a one hour consult with an attorney. If you need additional help and the attorney agrees to take your case, the fee charged will not exceed $75 per hour. The telephone number is (866)637-5341. Both the Maricopa and Pima County Bar Associations have lawyer referral programs that offer a 30 minute consult with an experienced attorney. Maricopa County's Lawyer Referral Service offers a 30 minute consult for a fee of $40. The telephone number is (602) 257-4434. Pima County's Lawyer Referral Service offers a 30 minute consultation for a fee of $35. The telephone number is (520) 623-4625.
My husband took money out of his gross wages. It is now in his IRA. Our CPA said that it is still partially mine, because he earned the money while we were married. Is my CPA correct?
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