NO, 401(k) cannot be split into 2 separate 401(k) accounts in a Divorce however, the courts can tell you that half of the funds need to be paid to your divorcing spouse. You can either withdraw the money, remember the tax implications, or find another way to get the money to the divorcing spouse.
You may not have any choice. If you do liquidate, be sure to share the tax liability here. In other words, since the owner of the 401(k) will get the tax bill, be sure to have in written form the liability will be split.
.JPG){kind=avatar}
You may not have any choice. If you do liquidate, be sure to share the tax liability here. In other words, since the owner of the 401(k) will get the tax bill, be sure to have in written form the liability will be split.