Is there a way to prevent spouse from getting retirement money during a divorce? Can it be rolled over into someone elses name or to another account to secure it?
2007-06-29 01:17:16 · 8 answers · asked by DT 1 in Family & Relationships ➔ Marriage & Divorce
What yo contemplate is called Illegal Conversion and is grounds for the court to give the non-offending spouse a greater value during the property settlement process of the divorce.
There is NO set timeframe for one spouse to be entitled to a portion of the other spouse's assets during a marriage. Your spouse could qualify for a full 1/2 after only 1 year of marriage or not qualify for any portion of the retirement after 50 years of marriage.
A better solution for you is to offer other property of value in lieu of a claim to the retirement in the property negotiations.
What you also need to keep in mind is that your state laws control. At a minimum, your spouse would be entitled to 1/2 of the equity in your retirement account FROM THE DATE OF THE MARRIAGE to the date when the divorce was filed.
But only based on equity.
2007-06-29 01:50:38 · answer #1 · answered by hexeliebe 6 · 3⤊ 0⤋
You really need to be asking your lawyer about this one. Because you could have some serious concequences if you do roll it over.
For example, lets say you roll it over. When the opposing party requests a subpoena for your information, the account will look as though it was closed. Then it looks like you just received a hugh chunk of change from your retirement, and your spouse may still be entitled to that and you may end up having to pay cash or come clean about what you did.
Either way talk to your lawyer....or if you don't have one, I would suggest finding one.
2007-06-29 08:28:41 · answer #2 · answered by mv_alva 2 · 0⤊ 0⤋
When one is married for a long time the spouse is entitlled to their spouces pension, but note you are also entitled to theres as well. If your already divorce and this was not stimpulated in the divorce, all you have to do is show a copy of your divorce papers and assign whoever you want to be the benaficiary.
2007-06-29 14:53:54 · answer #3 · answered by beliz 3 · 0⤊ 0⤋
Your spouse is entitled to a percentage of your retirement money accrued while you were together. The only legal way to have it left for your retirement is to pay out your partner by giving them more of your current assets - e.g. house, car etc.
I am so tired of people who want to do over the people they have been doing for the last ??? years.
2007-06-29 08:26:30 · answer #4 · answered by Barb Outhere 7 · 0⤊ 0⤋
The other spouse can sign away his or her rights. My ex-sister-in-law signed away all rights to retirement, social security, stocks and bonds, and IRAs. She was stupid because my brother-in-law is worth about a mill or so in all those.
2007-07-03 08:08:31 · answer #5 · answered by M 6 · 0⤊ 0⤋
If you have been married for 10 years she is entitled to half of your retirement and you are entitled to half of hers. Don't try to be deceptive her lawyer will be on the look-out for anything you try to hide. That is just the way it is.
2007-06-29 08:21:28 · answer #6 · answered by Anonymous · 1⤊ 1⤋
Years ago...my brothers wife went to his job and took $250,000 of his retirement money before she told him that she was leaving him.
2007-06-29 08:21:48 · answer #7 · answered by Barbra 6 · 0⤊ 1⤋
That's fraud and you can do time for doing it.
2007-06-29 08:24:32 · answer #8 · answered by DelK 7 · 1⤊ 1⤋