Ask Experts Questions for FREE Help !
Ask
    marinemom19's Avatar
    marinemom19 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 25, 2006, 12:39 PM
    401k
    I am about to be divorce.We have property in which I live in the home.My question is,I need to know before I take my 401k from my husband do I have to pay any penalties and what else if any will I have to pay to get my share of his 401k.I live in Louisiana.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Dec 25, 2006, 12:59 PM
    While retirement assets can be considered marital property, forcing a distribution of those assets will still incur penalties. Better to include the value as part of all assets and divvy them up so to not force distribution.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

401k [ 3 Answers ]

I have a 401k with less than a $1,000 in it. I wanted to know what the taxes would be? I quit that job and need to get it out. I need to know if I should transfer it of take it out?

401k [ 3 Answers ]

I was let go by a company 3years ago I have a 401k plan there. I am wondering if I can withdraw these funds at this time.

401k [ 1 Answers ]

I was recently terminated from my job of 11 years. While I never had a 401k with the company I worked for that I made contributions to, the company made contributions on their own for the employee for many years, even though I never started or made payments into a 401k. I cashed out the 401k last...

401k [ 3 Answers ]

I was listening to a Suzi Orman program where she is now saying, unless the employer offers a 40lK company match, do not contribute to a 40lK. The reason? The tax rates today are much less then they were 10,15,20 years ago. My company does not match, however I contribute 15% of my salary. I...

401k [ 1 Answers ]

My husband was laid of from his job due to downsizing last April. He had been with the company for a little over 4.5 years. We recently received notification that the company had taken back their matched contributions to his 401K leaving only his contributions. Is this legal? Is there any...

View more questions Search