If I’m in the process of a divorce and stopped contributing to my 401k because of financial reasons, how will this effectthe divorce?
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If I’m in the process of a divorce and stopped contributing to my 401k because of financial reasons, how will this effectthe divorce?
Asked on November 12, 2011 under Family Law, Missouri
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I think that you are asking this question because you know that your 401(k) is an asset subject to distribution in your divorce action. What worries e is that the courts will view this action - with help from your spouse's attorney - as a form of "dissipation" of a marital asset. You could make an argument that the contributions made after the filing of the action for divorce - a date certain that shows the court that you and your spouse consider the marriage over - are not marital assets but separate property and you chose to discontinue your contribution for the time being. The value of the asset should be determined as of the date of the filing. Seek legal consultation from an attorney in your area on the matter. Good luck.
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