NJSBA Family Law Section

 View Only

  • 1.  letter to retirement plan

    Posted 09-07-2018 04:20 PM
    Representing alternate payee.  Do you customarily write a letter to the Plan asking for a "QDRO hold" to secure the funds for ED and to ensure that no withdrawals are made?  I find most of these Plans don't require a-p consent if Participant wants to withdraw.  Do you do this while divorce is pending?  I'm inclined to write a letter before divorce is entered in this particular case as Participant is a hot head and I don't trust her.  I realize this wouldn't obligate the Plan but it puts people on notice.

    Thanks for any thoughts.

    ------------------------------
    Mary Jane Leland Esq.
    Leland Law Firm, LLC
    Freehold NJ
    (732)409-7777
    [email protected]
    ------------------------------


  • 2.  RE: letter to retirement plan

    Posted 09-07-2018 04:25 PM

    Generally, no, unless we think we need to.  In your case, you can ask them to put a "divorce" hold on it.  They'll generally notify the other party if something happens.  You can ask the company what their process is. I've done it with a UPS retirement buyout, and they were cooperative, and with Northwestern Mutual for a life insurance policy in a case where the other party who was unstable made noise about trying to cancel it or borrow from it. 

     

    3314.gif

    Misty A. V. Avallone, Esq.

     

    t 609.683.7400   f 609.921.8982

    e [email protected]   w www.hananisaacs.com

    4499 Route 27, Kingston NJ




    Original Message