F
Fran Franco
Guest
My brother who lives in Massachusettes was divorced last year. According to the court settlement the Ira was supposed to be split. There was an adjustment to the amount his wife was getting which was a little less than half, because of the amount she had in her retirement plan, rather than split the two accounts. As a result, the looked at what my brothers IRA was worth at the time, which by the way was right at the very peak of the stock market in late 1999 and early 2000. I did not receive any instructions from his wifes attourney until the 4th quarter of 2000. She was wanting a specific amount of money. The account is well below the said amount, because of the market conditions. I don't believe her attourney has filed a QUDRO. What recourse does my brother have. I would think because it is an IRA it would be left until 59 1/2 and also that the split should have been based on half of the shares going to each, instead of a $ amount. I would appreciate any info you could give me on this.
Thanks
Thanks