My 401k, mine....

[Willi3]

What is the name of your state (only U.S. law)? NC
My wife and I recently split. She has agreed to let me keep my 401k savings. In the seperation papers it is said to be my sole and personal property and she gives up her right to her 50%. In NC you have to be seperated for a year to finalize a divorce. Can she go back on this promise? Can I take out my savings now? or will that bite me in the butt 10 months from now..

 

[LdiJ]

What is the name of your state (only U.S. law)? NC
My wife and I recently split. She has agreed to let me keep my 401k savings. In the seperation papers it is said to be my sole and personal property and she gives up her right to her 50%. In NC you have to be seperated for a year to finalize a divorce. Can she go back on this promise? Can I take out my savings now? or will that bite me in the butt 10 months from now..

If you take out your savings it will bite you in the butt, taxwise. You will be paying a 10% penalty plus regular state and federal taxes. That could easily end up being over 40%.

 

[mistoffolees]

Not to mention that if you dissipate marital assets, you could be required to restore them to where they were at the time of the separation - so you could lose 40% to taxes and then have to give 50% of the original amount to your stbx, anyway.