Q: Would it be better for me to just keep our house and not asked for half of his 401(k)?
My husband and I have been married for almost 34 years and he has decided that he is not happy so he moved out. He told one of our daughters that he would give me the house because he felt that I would not get enough from his 401(k) and that I would have to pay taxes on that. I was a stay at home mom for years, I have only worked for eight years now so I won’t have much of a retirement. I’m afraid that without his retirement my life is going to be a huge struggle financially. Sounds like he’s trying to be nice but he knows a lot about retirement and 401(k) so I’m afraid he is actually scamming me.
A: Assuming the net values of the home and the 401(k) account are approximately equal, your spouse's proposal makes sense. There is much more to it than that though, and I encourage you to consult with an attorney in your area who handles divorce cases. Generally, in a long term marriage, the assets acquired during the marriage are going to be divided equally. In addition, you may be entitled to spousal support and child support, depending on the ages of the children, and the earning capacities, ages, and health of you and your spouse.
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