Have Legal Questions? Ask a Lawyer Now.
I am looking at a possible division of a 401K fund which would entitle me to about $40,000. His lawyer is saying that 1/2 of the $143,000 debt against the house should be deducted from that amount, putting me in the negative... From what I read above, that is in accurate. Can you give me any feedback on that? What I am thinking is that the house is separate and his, as would be the debt on the house and neither the debt or the house should play any part in the settlement of the assets.
Thank you so very much for your advice and information. It has greatly relieved my mind. I will rate you as excellent and call this very well spent money!