While married, I was listed as the beneficiary on both their 401k and Life Insurance surance policies. After separation, while still married, he removed me from both without my consent. Now the lawyer is saying I dont have any right to either on our dovorce agreement.
Are you really legally allowed to just remove a spouse during that time period without them signing off on it?
Location: MA
Uncontested divorce
Comments
You can remove a spouse as the beneficiary at any time. The beneficiary doesn’t even have to be the spouse to begin with. However you are entitled to at least a portion of the 401k.
The owner can change the benefactor any time to anyone. They can make their dog the beneficiary if they want.
If you are still married, and it’s an ERISA qualified plan like a 401(k), you will be the beneficiary of the 401(k) unless you signed off waiving your right to be. This is per federal law, and it wouldn’t have mattered what he filled out.
The 401(k) should have been counted as an asset for the settlement, and you should have either received a portion or been given more assets of another type.
You say ‘the lawyer’s. I’m assuming it’s his lawyer. You need your own. That 401k is marital property. If you have kids you need to make sure he is still providing for them, including life insurance.