One of the most contentious issues couples must face when divorcing is splitting the money. This is not just about checking and savings accounts, but it encompasses other assets such as property and retirement accounts.
Retirement accounts are some of the trickiest assets to deal with during the divorce.
A retirement account requires special handling. Because it is not an open-access account, the division does not occur upon the divorce. When deciding who gets how much of a 401(k), some of the most common questions include the following:
A 401(k) is one of the highest-leveraged pieces of property during divorce. One party may feel more entitled to the account and fight hard to keep it. Due to the tie-up until retirement, there are a few options for resolving the issue:
Money is one of the main reasons couples wind up terminating their marriage in the first place, so it stands to reason that dealing with it during the divorce is difficult. Understanding more about the 401(k) division process may help set expectations.
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