Cindy701 Posted October 21, 2020 Report Share Posted October 21, 2020 My husband recently retired, he has been lieing to me for years about his finances. I trusted him. His company matched, mine didn't. I am a tax preparer and certain flags were raised. He pulled money out of the qualified plan but reinvested in a personal investment with a transfer on death to someone other than me. This year he has moved about 300k in the same manner. And this is just the tip of the iceberg. Is this legal, can I fight It? All his secret savings and checking account have POD other than myself. I retain home and my office, due to survivorship rights, so I will be so cash poor, I will lose both properties. I won't even be able to keep utilities on. I show 70,000 debt he has 1.5 million in investments and 500k in savings checking and cash. He has always had me pay the bills so he could do the investing. I quit paying bills 5 years ago when I caught him cheating on me. He pays nothing of mine and never has. Is all this legal? I know it is not morally right. 27 years of marriage. I had no debt he had 20,000 debt coming into the marriage. Link to comment Share on other sites More sharing options...
Riley Britton Posted October 21, 2020 Report Share Posted October 21, 2020 I think your issue is beyond the scope of this board. Sounds like you need a competent divorce attorney and you may have to file for bankruptcy as well and start over. Good luck! Belgarath 1 Link to comment Share on other sites More sharing options...
Lou S. Posted October 21, 2020 Report Share Posted October 21, 2020 I agree that these are questions for a competent divorce attorney. And if done right I would think you'd be able to get at least half of the assets now instead of 0% of the assets when he dies. Link to comment Share on other sites More sharing options...
Luke Bailey Posted October 21, 2020 Report Share Posted October 21, 2020 Agree with everyone else, Cindy701. Get a lawyer. Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034 Link to comment Share on other sites More sharing options...
david rigby Posted October 22, 2020 Report Share Posted October 22, 2020 Not to beat a dead horse: not all divorce lawyers are familiar with QDROs. Make sure yours is. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
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