Reply to Withdrawing money from 401K/retirement account before divorce-- implications?

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Reply to "Withdrawing money from 401K/retirement account before divorce-- implications?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here, so what will happen with the money that has been withdrawn and cannot be traced to a bank account?
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The court doesn’t care where it is. The withdrawal is recorded so the spouse who withdrew it will have it counted as an asset in the division, assuming that it was withdrawn in the recent past. [b]The court isn’t going to look back 5 years, but it will care about recent transactions[/b].  [/quote]
If the spouse without the account tells their lawyer about this, they absolutely will look into where the money is. And any good lawyer is going to ask their client about all marital assets, including 401ks.[/quote]
But, a transaction from 5 years ago is much easier to say that the spouses agreed to use the money for X or Y and it no longer exists in the estate.[b] It would be hard for the other spouse to prove theft if they haven’t made some kind of enquiry about the money in all that time. [/b]A withdrawal now will be assumed to be a solo move that the other spouse can protest. [/quote]
No it wouldn’t. It would be very easier for the attorneys to request an accounting of where the money went. That’s what forensic accountants do in divorce cases. Don’t underestimate the spouse with a wealthy family. They will our lawyer you.
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