Q: I was told by my ex-wifes lawyer that it is mandatory to do a QDDRO split of my personal 401k. I agreed to this in the
pre-divorce documents when wife and I decided about cars, kids, assets, etc. Neither she nor I personally put a cent of our own money into that acct. It was funded by the company I worked for and they contributed a little each year. My question is....am I legally obligated by RI law to execute this split? Thanks.
A: Although opposing counsel may appear to be giving you legal advice, it is not a good idea to take advice on legal matters from your adversary. Your own independent counsel will cost you some money, but in the long run it may be well worth it. Rhode Island general law’s specify an equitable division of the marital estate. Once you retain your own independent counsel they can explain exactly what that means to you. Generally speaking qualified domestic relations order is are very effective way to fight pension assets without changing their nature or triggering significant negative tax penalties. When discussing this with your new counsel, also discuss what is premarital and the effect that has on those assets.
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