In my divorce agreement I was told I get 50% of my husbands current 401K. Would I be able to request the cash now? Is he obligated to cash my half out? We are 36 yrs old. Been divorced 1+ Years.
1 Answer from Attorneys
Your divorce decree should have stated how the funds were to be divided, but if not, what you need is a QDRO. Pronounced "QUAD-row," it stands for Qualified Domestic Relations Order. This is a separate court order that the judge has to sign off on and also must be approved by the plan administrator of the 401(k) retirement benefit (that's what makes it "qualified"). You would be best served to consult with a family law attorney who handles QDROs, of which I am one. Best of luck!