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LawTalk
LawTalk, Attorney and Counselor at Law
Category: Family Law
Satisfied Customers: 27888
Experience:  30 years legal experience. I remain current in Family Law through regular continuing education.
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Hi - My wife and I were divorced October 26th, 2012. Under

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Hi - My wife and I were divorced October 26th, 2012. Under the terms of our agreement, she is to receive half of the 401k money I earned during the marriage (about $45,000), with the two of us splitting the fee for the attorney who is going to arrange the paperwork on that. Since the divorce, I have heard nothing more about this and as of yesterday my 401K is still intact. Is this normal? It seemed like everything else had to be done within 30 days of the divorce date, but I didn't know if possibly this sort of thing takes longer for some reason.
Submitted: 1 year ago.
Category: Family Law
Expert:  LawTalk replied 1 year ago.

Good morning Greg,

I'm Doug, and I'm very sorry to hear of your situation.


The preparation of a QDRO (the Qualified Domestic Relations Order which directs the plan administrator to disburse money from the plan)---if it was not even begun before the divorce---but was supposed to be done sometime afterward---may be your problem. These documents are complicated and time consuming to prepare, they must be sent to the court for signature by the judge and then they must be processed by the retirement plan administrator.

You need to get with the attorney who is supposed to do the paperwork and get them moving. because the valuation of the money you earned during marriage was determinable at the time of the decree---if the market tanks and the value of your 401K drops, your ex will still be able to get her 1/2 value at time of divorce---not the 1/2 value after the market tanks 6 months later.

it is normal for the process of submitting the QDRO to the 401K Administrator and the disbursement of the funds to take about 60 days. However, as you are now past that time, you would be well served to contact the attorney and inquire as to the delay.

You may reply back to me using the Continue the Conversation or Reply to Expert link if you have additional questions; and if you do, I ask that you please keep in mind that I do not know what you may already know or with what you need help, unless you tell me.


Please remember to press the smiley faces/stars on the right of your screen when we are finished with our communication so I will be credited for my time in assisting you. Kindly remember to ONLY rate my answer when you are fully satisfied. If you feel the need to rate anything less than OK, please stop and contact me with whatever issue or clarification you may need. I will be happy to continue further and assist you until I am able to address your concerns to your satisfaction.

I wish you the best in 2013,

Doug

LawTalk, Attorney and Counselor at Law
Category: Family Law
Satisfied Customers: 27888
Experience: 30 years legal experience. I remain current in Family Law through regular continuing education.
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