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Legalease
Legalease, Lawyer
Category: Family Law
Satisfied Customers: 16348
Experience:  13 years experience, divorce & custody issues, protective orders, child abuse issues
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I have recently been divorced ( since 10/25/14) and there has

Customer Question

I have recently been divorced ( since 10/25/14) and there has been a QDRO for retirement benefits to be transferred by my ex spouse (he is the plan administrator) wherein I have not completed the paperwork for the judge to approve so we can make the transfer.
Is there a time limit for me to finish the paperwork process to the judge?
If I do not move forward with the completion of this paperwork for the transfer to occur, who is responsible for this money sitting in this retirement plan?
If I should die before this is done, what happens to that money? Does it stay within the plan?
Submitted: 1 year ago.
Category: Family Law
Expert:  Legalease replied 1 year ago.
Hello there --
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So long as you have a court order, you can take the steps to move your portion of it at any time. There is no time limit or statute of limitations on making the move. However, if he starts to use that money or reaches retirement age and you have not yet moved your own portion, then you are in a position where you will have to bring a lawsuit against him to try to recover what is due to you and that will put you in a bad position particularly if his fortunes turn for the worse and he decides to access that money. If he were not the plan administrator here, I would tell you that sending a copy of the court order should go a long way towards blocking the portion of the money that is yours -- but because he is the plan administrator he could choose to ignore the court order at a later date and basically tell you to sue him. And that is the position that you would be in.
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If there are losses to the account and it is spread over several funds, investments, etc, then your portion will also take a loss and there is nothing you can do about that at a later date either. Unless you can later prove that your ex made bad decisions and intended for you to suffer losses -- which again gets you into having to bring a new lawsuit against him at a later date to account for what has happened to the money.
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If you die before it is paid out, your heirs are the beneficiaries of any money still left in the accounts.
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I strongly suggest that you complete the paperwork as soon as possible and get the judge to approve the split of the money so that the money can be moved into an IRA account in your name. While there are technically no time limits, the sooner that you do this the better off you will be -- particularly if your ex comes up with issues and problems because you will still have the same judge and all matters in the case will still be fresh in the court's mind and files.
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Please let me know if you have any follow up questions. If not, can you please press a positive rating so that I will be paid for my time. I am paid NOTHING unless you press a positive rating underneath this ANSWER box. Doing so will not cost you additional money -- it simply acts as the trigger to Just Answer to pay me for my time.
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THANK YOU VERY MUCH
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MARY
Expert:  Legalease replied 1 year ago.
Hello again --
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I note that you reviewed the answer earlier this evening. Can I answer anything further for you ? If not, can you please press a positive rating under this ANSWER box so I will be paid for my time assisting you this evening? I truly am paid NOTHING unless you press a positive rating below. Doing so will not cost you any additional money -- it simply works as a trigger to Just Answer to pay me for my time assisting you tonight.
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THANK YOU VERY MUCH
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MARY

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