I have been seperated for 8 months from my husband. When I signed our seperation agreement, I did not have an attorney. We have been at odds this whole 8 months. I feel like I was taken advantage of and threatened to sign such unfair documents. I now find myself at a disadvantage, as I do not have any money to pay an attorney. What help is out there for me. I find that I am talking with alot of women who are financially not capable of having equal and adaquate representation during their seperation/divorce. Its in our agreement I get half of the 401k, when can I get it? I know nothing… how could this happen to me!
If you signed a separation agreement which was notarized, the agreement is binding and cannot be changed absent extreme circumstances, such as fraud or duress. As for the 401(k) that is done via a Qualified Domestic Relations Order, which should be drafted by an attorney on your behalf. You should meet with an attorney to discuss your rights under the agreement and the preparation of a QDRO to ensure you get all that you are entitled to.
thank you. Am entitled to liquidate this money after the divorce?
Retirement money is transferred from one spouse’s retirement account into a new retirement account for the receiving spouse. After the transfer is complete you are free to cash out the account as it will be your separate property, however you will incur substantial taxes and penalties for doing so.