Legal Question in Family Law in Louisiana
Do I have to cash in my 401K
My ex-wife is taking me to court to try and get her share of my 401K retirement plan. By law, do I have to cash it in prematurely to give her her share or does she have to wait until I retire (in about 15 years). The amount that was in the plan at the time of divorce was only about $700. Since the divorce it has grown to presently be about $13000.
2 Answers from Attorneys
Re: Do I have to cash in my 401K
Eventually the court will order a Qualified Domestic Relations Formula (QDRO), dividing the fund in what should be a fair division considering that a portion of it is community property.
Re: Do I have to cash in my 401K
I apologize. I told the principle involved and did not answer the basic question. I shall now.
No, you do not need to cash the 401K. She will get her share when it matures.
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