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Reply to "Withdrawing money from 401K/retirement account before divorce-- implications?"
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[quote=Anonymous][quote=Anonymous]Divorce Scenario with only one asset, as follows : Spouse who wants out of marriage has almost never worked and comes from a very wealthy non-US family; all of his familial assets are hard to trace but could be proved because of the lavish lifestyle. The other spouse who works has the 401K account is not wealthy works and finds it unfair that wealthy spouse wants half of the marital property. What is the worst case scenario for the spouse who decides to empty the 401k/retirment account and stops working after? [/quote] You can empty it but it will be added to your income along with a 10% penalty. You will lose quite a bit unless you do stop working so your income goes down.[/quote]
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