QUESTION
Am I entitled to my husband 401k after divorce and how soon will be able to collect? What will I need to access my share?
Asked on Dec 23rd, 2012 on Divorce - California
17 ANSWERS
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It will depend on the divorce judgment.
Answered on Jun 25th, 2013 at 10:13 PM
Civil Attorney serving Spokane, WA
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Glenn E. Tanner, Attorney at Law
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In Washington, it depends what your dissolution of marriage decree says.
Answered on Jun 25th, 2013 at 10:13 PM
Divorce Attorney serving Southfield, MI
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Do It Yourself Divorce, PLLC
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This question cannot be responded to with a "yes" or "no" response. Money accumulated in a 401K during the marriage is subject to division as a marital asset. It is in the galaxy of things the court can divide in a divorce but depending upon the parties situation, it may not be divided. An example is if the money in the 401K is equal to the money the spouse has in a 401k, the parties may set them off and not divide. If one person has received other property in excess of what is to be divided in the 401k, the court may not order a division. If the proceeds of a 401k are awarded, the party it is awarded to may receive it immediately. Most (not all) retirement plans will release the awarded proceed to an IRA in the receiving parties name.
Answered on Jan 02nd, 2013 at 12:35 PM
Usually you are entitled to of everything that is occurred during marriage. However, 401k is hard to get and morst of the time the judges arrange another way for parties to divide it.
Answered on Jan 02nd, 2013 at 12:35 PM
Family Law Attorney serving West Bloomfield, MI
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Law Offices of Eugene Lumberg and Eric S. Lumberg
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Your judgment of divorce will state how that asset will be divided. You will be able to collect according to the rules of the account. Talk to an attorney about this issue and discuss further.
Answered on Dec 30th, 2012 at 4:58 AM
If your husband's 401k was acquired during marriage due to employment, you are entitled to one-half of it. The court will sign a document entitled qualified domestic relations order (QDRO) to divide the asset. the 401k holder will then divide the account and put half in your name. Be careful, though. Cashing out part of a 401k triggers a taxable event. Good luck
Answered on Dec 30th, 2012 at 4:57 AM
Alternative Dispute Resolution Attorney serving Coral Gables, FL
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Robert J. Merlin, P.A.
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The contributions that were made to his 401(k), either by him or his employer, are marital and subject to being divided as part of equitable distribution. You should consult with an experienced family attorney in your community.
Answered on Dec 28th, 2012 at 12:50 PM
Child Custody Attorney serving Ontario, CA
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Law Offices of Sherrie L. Davidson LLC
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Usually any 401k earned during the marriage is community property and subject to division. It will depend on the specific plans rules as to when you can take it out or start withdrawing. You would also want to check with a CPA if you withdraw early as there can be severe tax consequences.
Answered on Dec 27th, 2012 at 2:58 PM
Probate Law Attorney serving Colorado Springs, CO
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John E. Kirchner
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You will be entitled to make a claim to the portion of the 401k that is marital property. Marital property is basically anything that was acquired during the marriage. Whether you would get any share of the 401k will depend, in part, on the overall financial situation and there are no fixed, simple rules. There is no requirement that each separate item of marital property be divided so long as the overall distribution is "fair". Whatever you and your husband agree to is fair; but, if you cannot agree, a judge will make a decision based on the specific law of the state where you live.
Answered on Dec 27th, 2012 at 2:58 PM
Child Custody Attorney serving Milwaukee, WI
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Zales Law Office
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What amount, if any, of his 401(k) is something the court decides during the divorce proceedings. If you have already been divorced and the judgment of divorce does not provide anything for the 401(k), they you need to speak to an attorney ASAP.
Answered on Dec 27th, 2012 at 2:57 PM
Insurance Law Attorney serving Gainesville, FL
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Steven Kalishman, P.A. Law Offices
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Difficult to answer your question without a lot more information. You may contact us to set up a consultation.
Answered on Dec 27th, 2012 at 2:57 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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In Idaho you are entitled to one-half of the value of the 401k for the period of time you were married. You will need to get a qualified domestic relations order (QDRO) entered by the court. You should also contact the 401k administrator to see if they have any special requirements. Generally, you will need to send a sealed copy of the QDRO to the administrator.
Answered on Dec 27th, 2012 at 2:06 PM
Family Law Attorney serving Bluffton, SC
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Peacock Law Group of the Lowcountry, LLC
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This all depends on where you are at in this divorce process, if there are any orders giving you rights to this, etc. There are several details not mentioned in your summary that an attorney would need to know prior to assisting you with this matter. No action and/or inaction should be taken based upon this information and it should not be applied to any situation(s) without first discussing it with a local attorney in person as soon as possible.
Answered on Dec 27th, 2012 at 2:06 PM
Generally speaking, each spouse is entitled to 1/2 of all assets that accumulated during the marriage (including 401k); however, the actual "rollover" of the funds does not take place until after the divorce is final.
Answered on Dec 27th, 2012 at 2:05 PM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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You are entitled to half earned during marriage. You don't get it until you're retirement age unless you want to pay the taxes and penalties. You probably need a QDRO to divide it.
Answered on Dec 27th, 2012 at 2:05 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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First you need an agreement or a court order, second you will need a QUADRO. Get an attorney.
Answered on Dec 27th, 2012 at 2:04 PM
You are entitled to the share represented by the Time Rule of Brown which is from the date of marriage to the date of separation. It must be rolled over into a rollover IRA. Otherwise you will pay tax and penalty on it now.
Answered on Dec 27th, 2012 at 2:04 PM