Do I have to reveal the fact that I have a 401k plan in my California divorce? 11 Answers as of December 14, 2010

If my spouse does not know I have a 401k plan, do I need to disclose that in the property declaration section if he is not going to contest the divorce?

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Law Office of Daniel B. Rubanowitz, APC
Law Office of Daniel B. Rubanowitz, APC | Daniel B. Rubanowitz
As part of the dissolution of your marriage, California law requires that divorcing spouses provide to each other extensive disclosures concerning assets and liabilities. Said disclosure is required by law to be an accurate and complete written disclosure of all assets and liabilities in which you have or may have an interest or obligation and all current earnings, accumulations and expenses. As such, you have a duty to disclose your 401K plan during the divorce process. Good luck.
Answer Applies to: California
Replied: 12/14/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
You are required to make a full disclosure of your assets. So, the answer to your question would be yes. You do need to disclose all community assets.
Answer Applies to: California
Replied: 12/9/2010
The English Law Firm
The English Law Firm | Robert English
Yes. You are required to disclose all assets. Failure to do so can be grounds for overturning a judgment and have other consequences as well.
Answer Applies to: California
Replied: 12/8/2010
Law Office of Curry & Westgate
Law Office of Curry & Westgate | Patrick Curry
Yes you, must disclose all assets and debts.
Answer Applies to: California
Replied: 12/8/2010
Warner Center Law Offices of Donald F. Conviser
Warner Center Law Offices of Donald F. Conviser | Donald F. Conviser
You are required to disclose all community assets, including your 401K plan, in your divorce. Look on the BLOG page of my Website on the right side,insert FELDMAN into the inquiry box at the top left, and see my blog entitled MARRIAGE OF FELDMAN: THE PENALTY FOR NONDISCLOSURE. Also, in Marriage of ROSSI, the Court gave the husband the entire lottery winnings won by the wife because she concealed her lottery win from him. Don't conceal any community asset.
Answer Applies to: California
Replied: 12/8/2010
    Michael Apicella
    Michael Apicella | Apicella Law and Mediation
    Yes, you have to make complete disclosure of all community, quasi community, and separate property. Failure to do so is grounds for your spouse to undo the settlement or judgment if he later finds out that you did not disclose any particular asset. Also, there are a variety of penalties the court can impose for not providing full disclosure.
    Answer Applies to: California
    Replied: 12/8/2010
    Maclean Chung Law Firm
    Maclean Chung Law Firm | G. Thomas MacLean Jr.
    Yes, you are required to disclose all your assets to the other party, even if they are not going to contest it. If you do not, and he finds out about it later, he can have the judgment set aside by the court. The reason is because both parties need disclosure of the other parties finances in order to make a decision on whether they will contest or agree to the terms of the divorce. Your spouse may want to contest the divorce if there are assets he does not know about.
    Answer Applies to: California
    Replied: 12/8/2010
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    Yes. In California, the spouses have an affirmative duty to advise the other party of all property, regardless of whether it is community property or separate property. Failure to do so as part of a divorce can result in sanctions on the withholding party and setting aside a judgment in whole or in part later. Family Code Section 2105 requires you to disclose all material facts as part of the preliminary declarations of disclosure.
    Answer Applies to: California
    Replied: 12/8/2010
    Goldberg Jones
    Goldberg Jones | Zephyr Hill
    Yes!
    Answer Applies to: California
    Replied: 12/8/2010
    Bartholomew & Wasznicky LLP
    Bartholomew & Wasznicky LLP | Hal D. Bartholomew
    Under the full disclosure laws of California - all assets and liabilities must be disclosed. Therefore, you need to disclose both the existence of the 401k plan and the current value.
    Answer Applies to: California
    Replied: 12/8/2010
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