Reported 5 months ago
A 61-year-old woman is seeking advice as her 51-year-old husband wants a divorce after 20 years of marriage. The husband is proposing to give her his $275,000 401(k) in exchange for their $250,000 house. The woman, who had previously used her 401(k) to pay off debts and cover expenses during her husband's illness, is questioning if this offer is fair, as she may be entitled to half of his 401(k) due to the community property laws in their state. The columnist advises her to consult with legal and financial professionals to ensure a fair division of assets considering the tax implications and past financial decisions made during the marriage.
Source: YAHOO