We are separated and have come to find out STBX has been liquidating all his IRA’s, 401k’s etc. Can he just spend all our marital money as he pleases while we are separated. Half of it is mine but they are solely in his name currently.
You may file an action for Equitable Distribution and seek that the judge issue a temporary restraining order prohibiting the liquidation or withdraw of funds from any account that is marital property.
I don’t understand how the courts can enforce this. My ex and I were told the same thing and he took out a loan on the equity of our company and now there is not a dime left. When we went to court, the judge said not to do it again, then he took the remainder out of the equity loan for items of his choice. How do you stop this?
File a motion for contempt, your ex can be jailed for violating the judge’s first order.
It can work.
In my case my lawyer immediately filed a motion like atty Clarey said after ex lost his job. It happened in a few days and the judge froze his retirement account. He can not get any of the retirement without court order. I believe a copy of the retraining order was sent to Valic (his retirement)
But this is a separate question for Atty Clarey. We have not settled ED but the ex filed bankruptcy (ch 7) and the bankruptcy trustee says that his retirement is not exempt and is taking it all to pay ex’s debts. can that be done since it is still marital money and part is then potentially mine? Or does the bankruptcy rules trump ED distribution?
It depends on the specific facts, and I cannot offer advice on bankruptcy law however, you should be listed as a creditor in the Chapter 7 case.