QUESTION
I have been separated for 5 years (legally) of which time I have received provisional monies, will this decrease the percentage of 401k I receive?
Asked on Apr 03rd, 2012 on Divorce - Indiana
More details to this question:
Also, if I acquired a student loan during the course of my marriage (while co-habitating) with my spouse, is he responsible for 50 percent of the student loan debt? Finally, if during the 5 yr separation my spouse''s 401K has decreased in value, which balance is he obligated to split with me- the date of separation or today''s balance?
1 ANSWER
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Jeffery M. Haupt Attorney at Law
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Your question was asked some time ago, so I hope by now you have talked to a lawyer and perhaps hired one to help represent you in this matter, given that you are dealing with thousands of dollars of assets and obligations.
As for receiving provisional money, an argument can be raised that you should receive less due to provisional payments that were made. But, a counter argument can be made that those payments were spousal support and should not be included in any property settlement.
The date for the 401K will usually be an agreed upon date. If you cannot agree, then again an argument can be made for using the higher value, or the current value. Because of this uncertainty you should consult with an attorney regarding the specific facts of your case.
Answered on Sep 26th, 2012 at 8:16 AM