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Asked 12/11/2008
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Are legal fees reason for a 401k hardship withdrawal? My grandchildren have been awarded to the custody of their father. Based for the most part in a lot of lies about their mother, my daughter. We have to appeal and it is very costly. Can we take a hardship withdrawal for this purpose? |
Answer 1/1 - Submitted 1/26/2009
Not sure of any special specifics regarding the company sponsoring the plan (they have a lot of lee-way when deciding what to allow and what not to.) If it is a safe harbor hardship... No that would not qualify... to prevent foreclosure eviction/ post secondary tuition/ unpaid medical bills, funeral expenses/ are standard reasons. Though some have other allowances..... You best bet is to call the plan administrator..or your HR,.. they can give you specifics...
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