Divorce and 401K Question

[Disney Doll]

Get a handle on all your finances now.

if your husband is in danger of being one who will start soending $$ foolishly, then talk to the lawyer about a legal separation and if that will protect you from paying for his foolish spending.

 

[snowywhite89]

This is on reason I don't like the yours, mine and ours financing in a marriage. The spender really benefits in this divorce. If the money is join the saver can exert more control on the money and even convince the person to put into their 401K.

 

[AmberHeartsDisney]

Is your name on that 4,000 CC? if so remove it ASAP.

 

[tlbwriter]

This is on reason I don't like the yours, mine and ours financing in a marriage. The spender really benefits in this divorce. If the money is join the saver can exert more control on the money and even convince the person to put into their 401K.

I think it's just the opposite - if all of your money is mingled, the spender can spend all of their own money and then spend the saver's money as well.

 

[snowywhite89]

I think it's just the opposite - if all of your money is mingled, the spender can spend all of their own money and then spend the saver's money as well.

The saver would know about all the finances not just the mine and ours. They would know the other was not saving in their 401K, because they see the pay stub and the net deposited. They would have had the talk about too much spending before they got to divorce. The saver also would have know earlier that the fiances were not working an decided how to handle it rather then find out they were losing part of their 401K many years later.

Many families are made up of a spender and a saver. They make it work by discussing the finances because both parties know all the financial details. In the yours/mine/our you only know yours and ours but not the mine. The mine and yours, since it was earned during the marriage, is marital money and will be combined in the divorce.

 

[tlbwriter]

The saver would know about all the finances not just the mine and ours. They would know the other was not saving in their 401K, because they see the pay stub and the net deposited. They would have had the talk about too much spending before they got to divorce. The saver also would have know earlier that the fiances were not working an decided how to handle it rather then find out they were losing part of their 401K many years later.

Many families are made up of a spender and a saver. They make it work by discussing the finances because both parties know all the financial details. In the yours/mine/our you only know yours and ours but not the mine. The mine and yours, since it was earned during the marriage, is marital money and will be combined in the divorce.

Oh, okay, you're assuming the spender would listen to the saver. I'm think of the OP's case and others like it, where that doesn't happen.