Q: I've been married 33 years, we have no assets, savings, children, she has a 401k,but I don't. I want a divorce, ?
A:
If you are asking about the retirement, the answer is as follows:
You are entitled to 50% of the retirement if it was started during the marriage. If you set up and put your half in a retirement account, neither you nor your wife will be taxed or penalized by the IRS as it is called a "transfer incident to divorce."
If the retirement was started before you were married, you have what is called a "community interest in a separate property asset." You will not be entitled to 50%. There is a mathematical formula to determine the exact amount of your interest.
If you have further questions, I recommend you consult with an experienced family law attorney.
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