Legal Question in Family Law in Texas
husband draws loans from 401k and keeps it for his own personal use, in the event of a divorce is the wife liable for a portion fo that loan?
Asked on 8/04/09, 2:56 pm
1 Answer from Attorneys
TC Langford
Langford Law Office
Thre are many questions unanswered here, but generally, during the course of the marriage, once money is spent, it is gone. The balance of the 401K at the time of separation is the balance that would be in issue. Sometimes, one spouse can prove that the other wasted the community resources for solely personal benefit. In that case, the other spouse can be ordered to reimburse the community estate for the wasted resources.
Answered on 8/06/09, 3:50 pm