Who Gets the 401k in a Divorce | Porchlight Legal

[@porchlightlegal5253]

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[@angie-gz4yg]

Great information. I learned so much

[@porchlightlegal5253]

So glad you found the video useful!

[@eidkristo6107]

And they ask why men dont wana get married

[@ericglaude4953]

Great info and thank you for the advice as well. I’m going through a divorce now and really don’t know much about any of this, but we are going for uncontested and she proposed a buyout figure. The house was left to me, but now the the decision I have to make is it fair she gets 50% of what the fair market value is for the house or can I offset down a bit knowing that I will have to pay for realtors and closing costs. The house has been paid for so it’s a clean cut. Thank you.

[@porchlightlegal5253]

We're glad you found the video helpful. We are unable to provide legal advice about your specific case on KZbin. Since you want to have an uncontested case, we recommend working with an attorney who focuses on low-conflict and uncontested cases. An attorney can help you work towards and balance your goals of getting a fair result while keeping the process uncontested.

[@paulolu685]

I'm glad that i found this channel, hi can you help me with my mom's situation my step dad and mom planning a divorce now and my step dad wants my mom 401k split she's the only one working since they get married (10 yrs) how she will protect her 401k without splitting thanks pls notice me

[@porchlightlegal5253]

A retirement account can be marital property even if only one spouse worked during the marriage. Even if a retirement account is marital property, it may or may not be divided in a divorce. An attorney can help your mom determine whether her 401k is marital or separate property, and whether it should be divided in the divorce, based on the circumstances of her case. Our firm handles divorce cases throughout the state of Georgia. We can be reached at: 678-680-5754.

[@donkeykong1234]

what are some valid examples where asset might not be divided closer to 50/50? it sounds like even a 60/40 ask seems out of line?

[@porchlightlegal5253]

The judge has discretion in how to divide the marital estate. Most of the time, the division is going to be close to 50/50. Whether it makes sense to ask for a different division would depend on your specific financial situation and the facts of your case. Financial malfeasance by one party can justify a different award, but it would still depend on the other facts of your case.

[@ArveeEco]

If I have a 401k under my name and not a joint account. Does that still get split?

[@porchlightlegal5253]

Everything earned during the marriage is subject to division--even if it is only in one party's name. That doesn't mean every account will be divided. Whole assets can be awarded to one party.

[@ArveeEco]

@@porchlightlegal5253 Thank you for your insight. I got so much questions but I don't know or think it will be a factor when I file for divorce.

[@DanielDaniel-dh9rq]

How much does divorce cost in Maryland

[@porchlightlegal5253]

The cost of divorce varies a lot. It depends on the facts of your case, such as whether you have kids or own a house. It also depends on how much you and your spouse agree on, which will impact how much work an attorney needs to do on your behalf to resolve the case. We recommend you consult with an attorney in Maryland to get a cost specific to your case. If you're looking for a cost upfront, look for a flat fee attorney instead of an hourly one.

[@1fastregal]

What about when a spouse steals your 401k and forges your name and you don’t know about it till several months later

[@porchlightlegal5253]

If you believe your spouse is mishandling marital funds, including retirement, you should seek an attorney's help with your case to address the issue promptly.

[@LeAnne-uw3wp]

It will be divided

[@porchlightlegal5253]

A 401k may or may not be divided in a divorce. It has to be at least partially a marital asset (acquired during the marriage) in order to be divided. A marital asset can still be assigned to one party, depending on the overall division of assets and debts.

[@Old-n8f]

THE 401K? It belongs to whomever worked and had the money taken out of his or her pay.

[@porchlightlegal5253]

It is a common misconception that a retirement account belongs to the spouse whose name it is in. But both income and retirement earned during the marriage are subject to equitable division in divorce. This video provides insight on how spouses can agree to a division that doesn't require splitting a 401k account.