Legal Question in Family Law in New York
401 k
Before a legal separation is filed can the husband sign his 401 k to a 3rd party or hide it from the wife so he doesn't lose it in the selltlement. I'm afraid of him hiding assets before the process starts.
Asked on 8/25/08, 3:24 pm
1 Answer from Attorneys
Andrew Nitzberg
Andrew Nitzberg & Associates
Re: 401 k
The difference between an 'uncontested divorce' and a 'contested divorce' is that in a contested divorce the parties fight about the money or child custody. One side is trying to hide money/assets. If both parties are open and honest then the action is largely about 'arithmetic'.
You are correct that 'hiding' happens and it is your lawyer's job to protect you. The timing of the money does not count. if it exists at the time either person files for divorce, then it is a part of the 'marital estate'.
Answered on 8/25/08, 3:43 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
