401k question

[erkoda]

I was awarded $30k in my divorced settlement from my ex spouse's 401k. The judge ordered my ex to pay $250 a month if the 401k had insuffient funds. I only received $25k. So he is paying the payments and now he says he is going to with hold any and all medical expenses for the kids from the 401k payments. Can he do this?

 

[Oly555]

I believe there would have to be a stipulated clause in the divorce or it's a simple case of contempt.
Have you spoke to your divorce attorney or a different one on the matter?. Most attorney's will give you free advise over the phone, pick up the phone.

 

[mrsandman]

I was awarded $30k in my divorced settlement from my ex spouse's 401k. The judge ordered my ex to pay $250 a month if the 401k had insuffient funds. I only received $25k. So he is paying the payments and now he says he is going to with hold any and all medical expenses for the kids from the 401k payments. Can he do this?

Erkoda, the general rule I know of is that first you would have to be married for at least 10 years to your husband to be entitled to a portion of his 401k account upon divorce, since you did indeed get a $30k settlement, I assume you are married for more than 10 years. As for the child's medical expenses, it sure depends on what is in your divorce settlement & how it is worded and what you two agreed upon. I think he could very well do that because from a 401k account, you can easily withdraw money to pay for medical expenses, and your husband may well be able to deduct the medical expenses he pays for your kids through his 401k alimony payments, but it is best advised to check with your divorce attorney.

If you're suddenly faced with medical expenses you're struggling to pay, you might be able to access the funds built up in your 401k to cover them. Medical bills constitute one of the "financial emergency" situations recognized by the IRS as a legitimate reason for needing your 401k money ahead of schedule.