Legal Question in Family Law in Maryland
My husband said he wants to roll his 401k into IRA and asked me to sign the form that contains the waiver of my rights to his 401k. He said it was the requirement so he could roll over into IRA. We have a rocky marriage and discussed divorce. Would I lose my rights to my husband's retirement funds by signing this form? Would the IRA he rolls his 401k into be still conspired marital property if he names somebody else as a beneficiary there? I am concerned that his request at the time when we discuss divorce can be his way of trying to protect his retirement funds so I don't get half of it if we divorce.
1 Answer from Attorneys
Retirement accounts, to the extent they were acquired during the marriage, are marital property, and would be subject to division in a divorce proceeding, even after a rollover into an IRA. The naming of a beneficiary would not divest you of your rights in the retirement accounts. I strongly urge you not to sign anything before consulting with a family law attorney who can inspect the document your husband wants you to sign and give best advice.
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