Can you be awarded a home and 401K?
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Can you be awarded a home and 401K?
Is it possible in the state of Texas for a judge to award one party the house and the spouses 401K or do they get one or the other?
Asked on April 30, 2018 under Family Law, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
It is possible for one party to get the house and the 401k...it just depends on the agreement of the parties or the overall value of the estate. Most judges will approve whatever the parties can come up with regarding the disposition of their property.
If the parties cannot agree, then the judge is required to divide the estate "fairly and equitably." This does not require the judge to divide the estate 50/50....even though most judges will try to get it close to 50/50. When judge's deviate from 50/50, it is usually related to one person taking on more debt or the bad conduct associated with one party.
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