Lack of Prosecution Time Limit?


#1

I don’t think there is any time limit, but the amount of the 401k your Ex could get would be valued at 50% at the time of separation. That is, your contributions for the past 11 years should be safe. Unless there is a specific amount in the agreement or there is some language that states that their portion will accrue with the rest of it or some other language.

No, separation agreements are forever or until one of you dies. It is not lack of prosecution. It was an agreement. They chose not to complete the agreement at that time. They are exercising it at this time it appears.


#2

If you have a separation agreement that divides the property your spouse cannot go back and petition for more at anytime, not even a day after the agreement was signed.
If you and your ex had a mere verbal agreement she can petition for a division of property at this point, however just as don5327 says, she is only entitled to one half of the martial portion of the account, plus or minus any passive (this means market change) increase or decrease in value from the date of separation to the date of distribution. This means that your contributions ( and the gain/loss on them) since you separated are not subject to division.

Erin E. Clarey
Attorney with Rosen Law Firm

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#3

My separation date was effective over 11 years ago. My ex-spouse has never taken any action to petition for their half of the 401(K) which was part of the agreement, until after the economy dropped last quarter (and the 401(K) tanked as well)! Is there a time limit when a lack of prosecution claim could prevent them from pursuing that portion of the settlement?