Can I take a loan on a 401K after a divorce is final, but before the assets have been split?
Bottom line is you will not be forced to give her a dime. They may, however, take into account the loan when doing the asset split. If she has a competent attorney then they will. If she doesn’t…they might not. Any agreement that the two of you have regarding the loan will not impact the split at all. They will split the account as of November of 07. If the loan was outstanding at that time then you all can agree to put the loan entirely on your half. If it was taken AFTER November of 07 then it will be definately be coming out of your portion of the account. What your ex-wife fails to understand is that the loan was taken out by you. You didn’t need her permission to take it out while you were married and you don’t need it when you’re divorced. The only thing is that you are obligated to pay it back so the split needs to take that into account. ex: Total account =40k including 10k loan. She will get 20k. YOu will get 10k and 10k loan. That’s an equitable split. But a poor attorney w
