Oregon  |  Family Law

Legal Question

Asked on: 11/09/04, 1:05 pm

Division of 401k: Are there options when division is not made?

My divorce was finalized June 18, 2003. One of the stipulations was that I be awarded a portion of my ex-husband's 401k Plan.

Before the divorce, my ex-husband took out a loan against the 401k Plan and purchased a car, some computer equipment, and other items. After the division, his portion was debt and the items he'd purchased, and mine was almost the full balance not borrowed against.

My ex-husband has an attorney. I don't, and I didn't during negotiations.

I was told by my ex-husband's attorney that division may take as long as 6 months due to the transfer of ownership of his employer.

Now, after several inquiries to same attorney, and several answers that tell me I must wait a few more months, I'm still awaiting the division of the 401k Plan.

My questions are as follows:

1. Is there a legal procedure or process I can initiate to have the division completed?

2. Are there options to collect the portion due me, i.e., lien on ex-husband's car, attach his wages, etc.?

3. I understand there will be a 10% penalty, but could I withdraw my portion of the Plan now?

4. Are there options available to me that I'm not aware of?

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