How Do I Freeze Up My Former Spouse’s Retirement Accounts So They Do Not Move The Money?

Are you worried that your former spouse is going to ‘cash out’ their account? Want to know the best strategies to stop them? Then this podcast is for you. Also-here is a sample of some language you can put into a letter and send to the plan administrator (remember-the best way to protect yourself is to do a QDRO!):

YOU ARE HEREBY NOTIFIED that {YourName} is claiming a community property interest in {Ex-SpouseName}’s pension, 401(k), stock option, deferred compensation, or retirement benefits (both qualified and non-qualified) under any Plan which you maintain for the benefit of {Ex-SpouseName}, SSN# {Ex-SpouseSSN}, DOB {Ex-SpouseDOB}. This notice is under California Family Code §755.

Should you pay any such claims following this notice, you and/or the plan will be subject to liability for such payments under In re Marriage of Baker (1988) 204 Cal.App.3d 206, 251 Cal.Rptr. 126. and will not be eligible for the protection afforded by California Family Code §755(b).

You are instructed to pay no claims and allow no elections (excepting therefrom investment choices which may be exercised by participants under Internal Revenue Code §404(c)) under any plans, policies or accounts which you may maintain for the benefit of {Participant}

Date:_________________                             ______________________________________                                                                         {YourName}, Alternate Payee