My son and his wife are divorcing in NY. On their lists of Statement of Net Worth for the court appearance, she did not list her 401K. He is pro se. When he questioned this omission his wife told her attorney she had liquidated the account.Does she have the right to do that and is he entitled to any of the proceeds in division of assets? He is refusing to sign any of the stipulations in this case until she makes an offer of settlement. He does not have a 401K to enter into this negotiation.

She has the right to liquidate, but then she would have to include the proceeds in her Net Worth. Your son can get a subpoena to serve on her employer to get a copy of the last 401K statement.

Quote:

---

Originally Posted by ScottGem

She has the right to liquidate, but then she would have to include the proceeds in her Net Worth. Your son can get a subpoena to serve on her employer to get a copy of the last 401K statement.

---

Thanks for your reply. Unfortunately, her employer was her father and his car dealership business, in which she was employed, has been closed. She refuses to say when she liquidated the account, although we suspect it was between last August and today. Is there some kind of government site that one can access to check on 401 K activity, i.e. closing, loans, etc?

Well if the dealership closed then the account may have been distributed. Just because her father was her employer doesn't mean he can get out of being subpoenaed. If he doesn't have the records he can refer to the plan administrator for the records.

Quote:

---

Originally Posted by ScottGem

Well if the dealership closed then the account may have been distributed. Just because her father was her employer doesn't mean he can get out of being subpoenaed. If he doesn't have the records he can refer to the plan administrator for the records.

---

Thanks. Gives another avenue to explore.