How to Handle Issues with 401K and Divorce
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Summary
I have a question regarding the language in my husband’s separation agreement with his ex-wife pertaining to his 401K. Is “appropriate court order” his divorce decree? Or does he need to file something additional regarding this part of his 401K? There is nothing in the divorce decree that further outlines specifics regarding his 401K. |
“I have a question regarding the language in my husband’s separation agreement with his ex-wife pertaining to his 401K. The language reads:
“Until the entry and acceptance of an appropriate court order, the Husband shall maintain the Wife as death beneficiary on not less than 50% …ETC ETC.”
Is “appropriate court order” his divorce decree? Or does he need to file something additional regarding this part of his 401K? There is nothing in the divorce decree that further outlines specifics regarding his 401K. When we got married, he designated me as beneficiary.”
Usually an additional order called a “Qualified Domestic Relations Order” (QDRO) needs to be filed with the retirement fund’s administrator directing them how to divide the fund (in this case a 401K). The Plan needs to be joined to the case, and an order prepared for the judge’s signature. A sample QDRO can generally be obtained from the plan administrator, though sometimes it takes an attorney to get all the i’s and t’s properly dotted and crossed.
Request a confidential divorce or family law case evaluation with an attorney in your area right now! Don’t delay! Time wasted can have a serious impact on the outcome of a family law case!
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For more on this subject check out these categories: Family Law, Divorce, Finances, Wills, Trust & Estate Planning
Michael Durgavich is an accomplished attorney and mediator. Maintaining a general practice in the San Jose, California area, Mr. Durgavich specializes in family law, bankruptcy, and alternative dispute resolution. Mr. Durgavich can be reached through his website at http://www.MichaelDurgavich.com. Contact This Author
State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.