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BizAttorney
BizAttorney, Attorney
Category: Legal
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Experience:  Over 12 years of business and legal experience.
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Divorce in Washington State. She has a 401k thru the company

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Divorce in Washington State. She has a 401k thru the company she recently lost her job to, she has gained employment since. I know she is given X amount of days to have total control of this and im guessing she will try to show the 401k to get a loan to buy me out of the house. Do i need to be concerned about this since Washington State is a fifty/fifty State? also when her position was eleminated, she received severence money, Am i entitled to half of this severence? (divorce is not finalized yet)

BizAttorney :

Good evening! I can help you out with your legal question tonight. WA is a fifty/fifty state, but the judge will list all of the assets and debts and then help the parties split them evenly if they can't do it themselves. If she lost her job, then she can roll that 401k into an IRA or she can leave it in the 401k and it can be split into two halves through a QDRO.

BizAttorney :

Yes, any severance money she obtains while still married is half yours. If she receives that money after the divorce then it is not yours. So you need to estimate what that severance payment will be and incorporate that into the calculation of assets and liabilities.

BizAttorney :

Did you have any other follow-up questions tonight?

Customer:

no, thank you.

BizAttorney :

Ok, have a great night and please leave me feedback before you go. Take care and please come back if you have more questions.

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