Divorce – (248) 588-3333 – Will My 401(k) Be Affected During Divorce?
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When handling divorce cases, all assets must be divided & a 401(k) account is classified as an asset. The 401(k) may name someone as a the owner of an account, but truth is that the amount in the 401k is a marital asset. The extent of the 401(k) account developed in during the marriage will have to be divided. If you can modify your contributions during the divorce, and if you have the ability to lower the amount, it would be wise to lower the contributions to a minimum so you are not splitting all of those dollars. In a scenario where your employer is matching the amount, that will also be split.
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