Bankruptcy Rulings Could Inform Financial Planning Decisions
Court cases expanded on the rules regarding the protection of retirement plan assets.
Court Finds Retirement Assets Divided in Divorce Not Protected in Bankruptcy
During a couple’s divorce proceedings, a property settlement awarded the ex-husband half of the ex-wife’s 401(k) balance and the entire amount in her individual retirement account (IRA), but no (QDRO) was ever executed and the ex-husband has undertaken no other action to obtain possession of the assets.