Jump to content

Can a sneaky spouse draw and sell esop stock from a qualified plan to an individual IRA and have transfer on death to alternate beneficiary

Recommended Posts

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

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

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...