sher871 Posted December 23, 2011 Posted December 23, 2011 I am a teacher in Illinois (only been teaching a few years). My husband is proposing that instead of him getting a portion of my retirement (in 20+ years), that we get the value of it today and pay him now. He has a 401K worth $200,000, which he has agreed to give me 50%. If we get the value of my retirement now, my husband would get a credit from the 401K money he is giving me. Any thoughts on this??
Dust Posted December 23, 2011 Posted December 23, 2011 I am a teacher in Illinois (only been teaching a few years). My husband is proposing that instead of him getting a portion of my retirement (in 20+ years), that we get the value of it today and pay him now. He has a 401K worth $200,000, which he has agreed to give me 50%. If we get the value of my retirement now, my husband would get a credit from the 401K money he is giving me. Any thoughts on this?? You need to talk to a lawyer and maybe also a tax advisor. Do whats best for you. I think its really lame that people have to split their retirement funds when getting a divorce.
Author sher871 Posted December 23, 2011 Author Posted December 23, 2011 Well...we do have lawyers. I know that my husband's attorney is in support of what I described. Knowing my attorney, I think he will fight for this not to happen. I'm just not sure what is right.
Dust Posted December 23, 2011 Posted December 23, 2011 Well...we do have lawyers. I know that my husband's attorney is in support of what I described. Knowing my attorney, I think he will fight for this not to happen. I'm just not sure what is right. Talk to your attorney about this as it seems you havn't.
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