Join Date: Jul 2016
Location: Edging slowly closer to the frozen tundra
Re: Who can I hire to help me deal w this 401k issue?
Not sure if this is the correct forum, but hopefully someone here can help...
I'm recently divorced and ex was supposed to transfer part of our 401k to me (it's currently in his name only). For some reason he's finding it impossible to handle (he's a lawyer, I feel like it might be more an emotional problem than anything else) and tells me he feels like he's not qualified to handle it and doesn't have the money to pay someone.
He's now about 7k behind in child support and I'm worried that I'm gonna lose my apartment, which would obviously be a nightmare. So I feel like I should be able to hire someone on contingency (like, pay them with the fruits of the transaction) to do whatever work is required to transfer the money from him to me and to cash out enough of it to get me past this rough patch (actually just starting a new job this week, so frustrating he couldn't hold it together for just 3 more months or so!). But I don't know who to call. What kind of professional handles that sort of thing? Would it be some sort of lawyer? Or someone more financial?
Thanks for any help!
If he's "supposed to" because of a court order, and he's not doing it, he's in contempt. Call the court clerk. They can and will contact him to make sure he has complied with every detail in the divorce decree.
Generally, you send a copy of the divorce decree to the company that manages the 401k and they do the splitting...that's the only way it can be done without incurring taxes and penalties, too.