Full question:
In a divorce property settlement, it was agreed that the 'coverture' portion of a 401k account was to be divided via a QDRO. In the subsequent QDRO, signed by both parties, the provision was for an amount equal to fifty percent of the total account balance. The QDRO was executed and the funds transferred. 15 months later, the original account holder is demanding funds back as the amount of 'fifty percent of the total' was in excess of 'half of the coverture portion'. As she signed the QDRO after the original property settlement what liability does the other party have to re-pay the difference? Does legal council have any liability for improperly executing the settlement via the wording in the QDRO?
- Category: Debts and Credit
- Date:
- State: National
Answer:
The coverture portion of a 401k account is determined by a specific formula, which can vary. Therefore, it is necessary to assess whether the QDRO conflicts with the original property settlement agreement. If the QDRO is found to be in conflict, it could be viewed as an improper modification of a finalized divorce decree.
Generally, attorneys are required to adhere to a standard of care in their practice. If an attorney fails to meet these standards, resulting in harm to their client, this may lead to a legal malpractice claim.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.