If my wife and I are getting a divorce after 5 years of marriage and I have no 401k but she does, am I entitled to a portion of it?
Question Details:
We both work full-time jobs. We own a home with no equity. There is no assets from what I can see only credit card debt.
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In MA, a 401K is considered marital property. Basically, the portion of the account accrued during the marriage can be divided between the parties, You must have a Qualified Domestic Relations Order (QDRO) which should be prepared by an attorney to give to the company adminstering the 401K, in order to split the amount of the account.
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