I'm getting divorced, we are splitting things 50/50. She has a 401k in her name, should I ask for half of it?

Question

We had a cd that I had to cash out to pay some bills but I also spent alot of the money on me. The CD was $2,000.00 and there is only $400.00 left I don't have the exact amount that I spent on myself but it mostly went for bills. I want what is mine by law, but I also want to pay her back for some of the money I spent on myself. Her 401k is about $5,000.00.

Answer 1

That is her 401k plan and no she doesn't have to split that with you 50/50 unless you signed a prenup that included this. If not, c'est la vie and move on.

Answer 2

WOW.. an honest man in a divorce!?! that is cool. You are legally intitled to half her 401k if you are in a community property state. If you choose to maintain honesty.. figure what you owe on the money you spent from the cd, and minus that from your half due. Sounds like you may be trying for a ammicable divorce, I really admire the honesty and highly reccommend this continued respect throughout the divorce. If you can still talk it over, discuss this situation with her, and see how she would like to work it. If you are not communicating, then maintain your honesty, it will make you look 'good' in the courtroom. A TIP... IF YOU ROLLOVER THE 401k MONEY INTO ANOTHER RETIREMENT ACCOUNT... LIKE A PERSONAL IRA AT YOUR BANK YOU WONT HAVE TO PAY ANY TAXES OR FEES ON IT. The people at the company who manages her 401k funds will ask you how you want the money handled. Put it into another retirement fund, and let it grow. I divorced after 20 years and we had three kids whom were almost grown, we went against all the odds and handled the divorce honestly and upfront for the sake of the kids... (whom have handled the split so much better from our actions) we maintained the family home together, it is still in both our names (listed as unmarried now on the mortgage papers). I also received half his 401k and that is how to avoid taxes and penalties. Amicable and honesty is best, and the icing is...we have ended up best friends.

Answer 3

I don't think the $5000 in her 401k would be worth the fight or trouble it'll most likely cause. Besides, if you get $2500, the government will take about 35%, leaving you about $1625. I'd say just keep the $400 left from the cd and call it good, unless you're wanting to create an enemy. Messing with people's money has a tendency to really rile most people up.

Answer 4

I know in most cases of divorce, a husband or a wife is entitled to half of any 401k's, savings accounts, bank accounts and acquired items during the marriage. The only way around this is an agreement that she gets one thing and you another. All bills generated during the marriage are also usually 50/50. Been there done that.

Answer 5

No you shouldn't. Even if most of the money went to bills you shouldn't have spent it. Once you voice and agree to a divorce then its "hands off" all money until you both have decided where it goes. Dude you screwed yourself if you wanted to try and have a fair and equitable divorce. The only way to salvage things is to let it go.

Answer 6

Her 401 is a maritial asset...if you live in a state where all marital assets are split 50/50 then you get half...it works both ways, not just the wife gets half of everything the husband has.

Answer 7

Whatever floats your boat. All assets are in marrage by rights a 50/50. If your going to court a Judge will determin whats what. But if your doing this yourself. do whatever is less painful

Answer 8

That is up to up... legally u could ask for it..

tell her what u did.. as u wrote..

and then do not ask for it.. U can walk away with u head held high... and

she will most likely never say a bad a word about u...

better to walk away with honor and good feelings... in a divorce,,, they are hard enough... money is not everything...

Answer 9

That depends on how much of it she made while she was with you. If she braught it into the marrage you dont have much of a chance to get it. Just go for what your entitled to, dont make this into a money making scheme out of revenge.

Answer 10

depending on the state in which you live, you may or may not have the right to that 401k. Also, ask yourself, what is your situation, and hers, be fair for both your sakes. you may want to keep her as a friend later.