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    redneckmomma's Avatar
    redneckmomma Posts: 2, Reputation: 1
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    #1

    Jan 19, 2011, 07:24 AM
    Can I cash out my 401k without my wife's signature
    Married but separated for 2 years, my company closed their doors and I want to cash out my 401k does my wife have to sign the check
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #2

    Jan 19, 2011, 07:33 AM

    Why would she need to sign off on YOUR 401K?

    Incidentally... you know you are going to get nailed with early withdrawl penalties and taxes... you are better off rolling it over into an approved retirement plan. And any of those won't allow you to actually have the money pass through your hands.
    redneckmomma's Avatar
    redneckmomma Posts: 2, Reputation: 1
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    #3

    Jan 19, 2011, 07:45 AM
    I was told since I was still married my spouce had to sign the check. I'm having to cash out to pay off a vehicle the wife defaulted on and repair the transmission on same vehicle.
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
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    #4

    Jan 19, 2011, 08:25 AM

    That doesn't sound right at all... its in your name alone... you made the contributions... at the very most she is considered a benificiary ( and as a wife that would have been manditory). Not a co-owner.


    Unless of course there was a divorce settlement with the court that grants her half of the 401K.

    And a separation isn't a divorce.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #5

    Jan 19, 2011, 08:37 AM

    Red: Perhaps you are thinking aboiut the requirement with 401(k)'s that if you select someone other than your spouse to be the beneficiary then the spouse must sign a waiver to authorize it. But when you take a distribution the check will be in your name only.
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