Cash Out

iVillage Member
Registered: 06-03-2004
Cash Out
3
Thu, 05-19-2005 - 3:56pm

Has anyone ever gone with at "cash out" at the divorce final. My husband wants to buy me out of his Pension and his 401K Plan with cash instead of rolling any funds over to me and giving me any part of his pension.

I think this would be ok because it would allow me to purchase my own home and still have some money to invest. Any suggestions.

iVillage Member
Registered: 02-19-2004
In reply to: jilllwieg
Thu, 05-19-2005 - 4:04pm
You don't have to split all your assets down the middle. Doing that is not always practical, for instance you can't take 1/2 a dining room set or 1/2 a car. The courts look to see if the distrubtion is 'equitable' or fair. If he's getting a $10k retirement fund and you are getting $10k in cash, that seems fair to me.

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iVillage Member
Registered: 06-03-2004
In reply to: jilllwieg
Thu, 05-19-2005 - 4:16pm
We have already split all out our household items and bank accounts. The only thing he wants to buy me out of is 401K and Pension. I would almost rather do the cash out because I will have money for a down payment on my house and still have money to invest. This way he can keep everything he has in 401K and Pension. I think is sounds fair and he has the cash to do it.
iVillage Member
Registered: 03-19-2003
In reply to: jilllwieg
Thu, 05-19-2005 - 9:54pm

In divorce settlements these days..... anything goes just about.


If you think that what he's offering you, in terms of dollars, in fair, then go for it!


Karen ~ wildlucky4me ~