Asked 11/14/2010
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401 k in divorce My wife has a 401k worth 40,000 i have none. She says i have no right to half of her 401k and i say i do. I have allready filed personal bankruptsy on debts that i had on credit cards. We also have a house that i,m sure is going back to the bank. Also there is one card that is joint that she is still paying for and thinks i owe her half on it. I say not because of my bankrupsy. I need some advice on if i can get half the 401k and if she can froce me to pay half the debt. |
Answer 1/1 - Submitted 11/14/2010
Yes, you have to split all marital assets and all marital debts. You can't stick her with the mortgage underwater, the credit card debt for he to pay, while you walk away with half her retirement though.
For example, if you're underwater 40k on the house and she assumes that debt, she very well could get to keep her retirement of 40k to make it a wash.
Did she start this 401k after you married, or had she begun saving for retirement before then? How upside down are you on your home?
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