401K division


#1

Sandy,

It would depend on whether or not your husband’s 401 (k) plan required a court order to divide the account and distribute it to you. It is most likely that the only way that the distribution of those funds can take place without you having to pay taxes on the money you receive is to do so with a court order. So, yes, you would need an attorney to draft that for you, since it is a court document. You should have your husband check with his human resources department (if his 401 (k) is through his employer) to find out what the plan requires to distribute those funds.

Take care,

Shonnese D. Stanback
Attorney
The Rosen Law Firm
4101 Lake Boone Trail, Suite 200
Raleigh, North Carolina 27607
919.256.1534 direct voice
919.256.1667 direct fax
919.787.6668 main voice
919.787.6361 main fax
NCdivorce.com
email: sstanback@rosen.com

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

My spouse and I seperated 2 years ago then reconciled right before we were to complete the division of assets. We have since seperated again and wanted to complete the divorce and seperation of assets. My spouse has agreed to 75% of his 401K to be given to me. My attorney wants to charge me the total fee again for the divorce, says its a new case. Is there any way that I can facilitate the signing over of the 401K to my name and complete this divorce based on what we had in place previously without going through the cost and stress of hiring the attorney again???