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Asked 2/27/2008
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Discounting 401K's during a divorce My husband has been told by two lawyers that it is standard procedure to discount 401K's 20 - 35 % when assessing assets during a divorce. This supposedly accounts for taxes assessed at the time of withdrawal. My lawyer says he has never heard of this. I also spoke with an accountant who said she had never heard of this. I of course would believe my lawyer over my soon to be ex-husband but we are really trying not to get into a big lawyer battle and have tried to divide our assets amicably. We lived in Oregon throughout our 26 years of marriage but my husband now lives in the state of Washington. Please advise. |
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