Family Law

Family law questions? Ask a family lawyer online.

Ask a Lawyer,
Get an Answer ASAP!

If both parties have 401k plans, how is that worked out

Customer Question
If both parties have...

If both parties have 401k plans , how is that worked out concerning the divorce?

Lawyer's Assistant: What steps have been taken? Have any papers been filed in family court?

No not yet

Lawyer's Assistant: Family law varies by state. What state are you in?

Texas

Submitted: 23 days ago.Category: Family Law
Show More
Show Less
Ask Your Own Family Law Question
Answered in 7 minutes by:
5/30/2018
Family Lawyer: Sean K, Family Law Attorney replied 23 days ago
Sean K
Sean K, Family Law Attorney
Category: Family Law
Satisfied Customers: 776
Experience: Family Law Attorney in Private Law Firm
Verified

Hi, I’m Sean and I will be assisting you as an expert today. I’m an attorney with more than 20 years of experience. It is my goal to provide a solid overview of your situation. Whether the analysis is good or bad as to your matter, I want to make sure you understand any points you need and that you have options to better address the questions you have. If I am able, I will also provide you with some resources. Please note that the system, independent from me, may offer a phone call. You are not obligated to engage in a phone call, but I am happy to speak if you desire. This is completely up to you.

I will just focus the answer to this on the division of 401k plans in a divorce. If there is other property, that would also have to be included.

Let's say that Spouse 1 had a 401k of $100,000 and Spouse 2 had a 401k of $180,000. Let us also say that when the parties were married, Spouse 1 did not have a 401k (all of it was earned in the marriage) and that Spouse 2 had $30,000 in their account (as shown on a statement from the time of the marriage.)

Generally (I say generally as the specifics on the growth of the $30,000 could lead to some marital property being created, but for this purpose I will just call it $30,000 as separate property.)

So that leaves Spouse 1 with $100,000 of marital retirement and Spouse 2 with $150 of marital retirement. That is a combined total of $250,000. Absent some particular finding or reason for offset (not common) the Court would likely divide the $125,000 equally so each spouse would end up with $125,000 of the marital retirement.

In the end it would look like this.

Spouse 1 would have $125,000 with $25,000 being transferred to them (this could be done via a tax free exchange) from Spouse 2.

Spouse 2 would have the $125,000 of the martial part of the retirement plus their $30,000 as separate property for a total to Spouse 2 of $155,000.

Essentially Spouse 2 kept their nonmarital or separate retirement from prior to the marriage and the two equally shared in the marital portion.

Please let me know if you have any further questions or if there are more questions based on what I have provided.

Please note: This is general information for educational purposes only and is not legal advice. There is no specific course of action is proposed and no attorney-client relationship or privilege formed within this conversation.

If you have any follow up questions it would be my pleasure to answer them. As experts we only get credit for the time and effort we spend on our answers if you rate us positively - 5 stars is definitely appreciated but not required! There is no cost associated with you rating me and you can still ask follow up questions after rating me and I will respond.

One final point, there may be a delay between your question and my answer; this is because I'm either not at my computer or helping someone else but rest assured, if you ask, I will provide an answer. Thank you again.

Ask Your Own Family Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a family lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Sean K Your Own Question
Sean K
Sean K
Sean K, Family Law Attorney
Category: Family Law
Satisfied Customers: 776
776 Satisfied Customers
Experience: Family Law Attorney in Private Law Firm

Sean K is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

11,971 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

LawTalk

LawTalk

Attorney and Counselor at Law

9,034 satisfied customers

30 years legal experience. I remain current in Family Law through regular continuing education.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

7,856 satisfied customers

I provide family and divorce law advice to my clients in my firm.

P. Simmons

P. Simmons

Lawyer

3,593 satisfied customers

16 yrs. of experience including family law.

Barrister

Barrister

Lawyer

3,571 satisfied customers

Attorney with 17 years experience

RobertJDFL

RobertJDFL

Lawyer

2,991 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Lawyer

2,828 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Family Law Questions
I got a divorce 6 yrs ago in Merced after 32yrs of marriage.
I got a divorce 6 yrs ago in Merced after 32yrs of marriage. I was awarded spousal support but we settled out of court. For these last 6 yrs he has not complied to the amount set in the order. Instead… read more
Nisha Jones
Nisha Jones
Juris Doctorate
3,097 satisfied customers
I had a family law question. I have been divorced for three
Hi I had a family law question. I have been divorced for three years now. I have three daughters with my ex husband. He needs to have supervised visits with girls which was placed by CPS … read more
Christopher B, Esq
Christopher B, Esq
Attorney
Juris Doctor
1,496 satisfied customers
I want to file for divorce after 3 yrs of marriage because
I want to file for divorce after 3 yrs of marriage because of domestic abuse. I'm currently trying to convince my husband to go the mediation route. I haven't filed for divorce yet, but I have been li… read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
After a 9 year marriage that is in the process of Divorce in
After a 9 year marriage that is in the process of Divorce in the state of Missouri, I have a few questions. There is no pre-nup and no dependents. 1. Are assets accumulated personally prior to marriag… read more
RobertJDFL
RobertJDFL
Lawyer
Juris Doctorate
2,991 satisfied customers
I was divorced in 2002 after ten years of marriage, got full
Hello, I was divorced in 2002 after ten years of marriage, got full custody of our two boys. He was ordered to pay $648/month bc we had to imoute income and he hadn't worked in the past year so it was… read more
Sean K
Sean K
Family Law Attorney
776 satisfied customers
Is there family law. In california. Is there a family lawyer
hi JA: Hello. How can I help? Customer: is there family law JA: What state is this in? It matters because laws vary by location. Customer: in california JA: What steps have been taken so far? Customer… read more
RobertJDFL
RobertJDFL
Lawyer
Juris Doctorate
2,991 satisfied customers
Family lawyer? Florida. Are you in family law. Family law?
Family lawyer? JA: What state is this in? It matters because laws vary by location. Customer: Florida JA: What steps have been taken so far? Customer: Are you in family law JA: Anything else you want … read more
Sean K
Sean K
Family Law Attorney
776 satisfied customers
Is there a family law attorney that can advise on Ventura
Is there a family law attorney that can advise on Ventura county filed dissolution process … read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
Florida Family Law: How best do I file for divorce in
Florida Family Law: How best do I file for divorce in Florida (child involved) where my soon to be ex-spouse will be unable to see my current salary? He just got declared a disabled vet and will be re… read more
LegalGems
LegalGems
Juris Doctorate
12,293 satisfied customers
Missouri Family law: 1. What grounds can divorce be
Hello, Missouri Family law: 1. What grounds can divorce be requested? 2. what is the default custody arrangement usually? 3. What is the default support arrangement?… read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
My question is about my marriage I need to divorce. N Not
Hi my question is about my marriage I need to divorce … read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
I have a family law question about the judge in my divorce
I have a family law question about the judge in my divorce case in alaska … read more
N.Brown ESQ
N.Brown ESQ
Juris Doctorate
137 satisfied customers
I've been recently divorce in a same sex marriage.. my child
I've been recently divorce in a same sex marriage.. my child currently lives with the other parent full time.. what are my right and chance of reversing the custody situation … read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
59,340 satisfied customers
I have a few questions regarding family law (divorce) in
I have a few questions regarding family law (divorce) in Washington state. … read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
I have a family law issue. I have a divorce decree in NYS. A
I have a family law issue. I have a divorce decree in NYS. A separation agreement is incorporated into that decree. The agreement calls for the sale of the marital residence. The house was sold and my… read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
If a business came into marriage is it part of the divorce
If a business came into marriage is it part of the divorce ownership n name never changed at marriage … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
We spoke yesterday regarding Family Law Custody and Divorce
Hello Chris. We spoke yesterday regarding Family Law Custody and Divorce issues in Florida. I have another question in that regard. Is this the place where I ask you that question?… read more
Ray
Ray
Lawyer
Doctoral Degree
33,008 satisfied customers
I am divorced but in a family law court over marriage
I am divorced but in a family law court over marriage settlement of property. At each hearing the judge has made decisions and ordered me to pay more alimony, more fees for the opposing side and not o… read more
Maverick
Maverick
Doctoral Degree
6,136 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x