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Going through a divorce, judge ordered that husband could cash in the 401K to pay off his debts pursuant to review of the terms

| Dec 5, 2015 | Uncategorized

Q: My husband and his attorney are requesting that I allow them to roll over his 401k into an IRA so that he can have immediate access. I have not been given any documents or account information to review. My instincts say that there is something wrong here, and my attorney is telling me that he feels we can “trust” them. I do not want to give my consent to this, and due to previous experience feel I cannot trust opposing counsel at all. Is it possible to have a QDRO drawn up before the divorce is settled?

A: David’s Answer:  You can have a QDRO drafted, but the plan won’t generally enforce it unless there’s a judgment. You can always insist on being provided with a recent statement – and have a stipulation drawn so as to protect your interests. Schedule a consult with a NYC Divorce attorney for a full assessment. — David Bliven, Bronx Divorce Attorney, (www.Blivenlaw.net)

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