Portland, OR asked in Divorce for Texas

Q: I filed for divorce in Tx. I am unemployed and needing money to pay bills. Can I cash my 401k if we both agreed and sign

We signed final decree stating I get to keep my 401k and he keeps his. I need money to pay for my bills and food and divorce fees. Will I get in trouble if I cash it out now? I know they recommend to wait til after but my question is will I get in trouble if I cash it out. I really need money since I lost my job and am behind on bills.

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1 Lawyer Answer
Penny Wymyczak-White
PREMIUM
Penny Wymyczak-White
Answered
  • Houston, TX
  • Licensed in Texas

A: You can cash it in. You will have to.pay taxes on it but you will not be in trouble

1 user found this answer helpful

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