Archive for April 2009
Can a spouse withdrew his 401 K without telling the other party before a divorce?
Smake l asked:
Can a spouse at age 62 or close to retirement age withdrew his/her 401 k 1- 2 years before filling for divorce ,so he doesn’t have to split it w/ the spouse? Is it legal? I live in CA.
Can a spouse at age 62 or close to retirement age withdrew his/her 401 k 1- 2 years before filling for divorce ,so he doesn’t have to split it w/ the spouse? Is it legal? I live in CA.
What’s the difference between a 401(k) hardship withdrawal and a regular withdrawal?
Lib Arts Major asked:
I’m thinking of withdrawing some money from my 401(k) to pay some medical costs.
I’m thinking of withdrawing some money from my 401(k) to pay some medical costs.
When I logged into my company’s 401(k) management site to check out the tax penalties for withdrawals, I couldn’t see any difference tax-wise between a regular and hardship withdrawal. So now I’m wondering why do the paperwork associated with hardship withdrawals. Why not just do a straight withdrawal?
The reason I can’t just take out a 401(k) loan is that I took one last year when settling my divorce.