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  1. #1

    Question Transferring Your Funds to Avoid Paying a Judgment

    My question involves a marriage in the state of: Divorce Decree signed by judge in Jan 2014, Settlement Agreement signed Dec 2013. Agreement awards me specific dollar amounts from two separate annuities with the same insurance company (call it company x) that are specifically named and described in the agreement. Recently I was told that the "funds" are now located with a different insurance company (call it company y) than what is detailed in the agreement. The initial annuities had no active surrender fees and the new annuities have surrender fees. My attorney that handled the divorce and wrote the agreement will not address any of this unless I sign a new contract with him and hand over a new retainer of $10,500. It just happened to be that retainer balance went to zero the day the Judge signed the decree in January.
    My questions:
    Is this contempt?
    Can a modification like this occur without an Order to Show Cause from Judge?
    Can I submit an Order to Show Cause to have the Judge reopen this case?
    Would a contempt of court motion be more suitable than a Show Cause?
    Thank You!

  2. #2
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Transferring Funds Prior to Settlement Award Being Awarded

    Quote Quoting NYsettlement
    View Post
    My question involves a marriage in the state of: Divorce Decree signed by judge in Jan 2014, Settlement Agreement signed Dec 2013. Agreement awards me specific dollar amounts from two separate annuities with the same insurance company (call it company x) that are specifically named and described in the agreement. Recently I was told that the "funds" are now located with a different insurance company (call it company y) than what is detailed in the agreement. The initial annuities had no active surrender fees and the new annuities have surrender fees. My attorney that handled the divorce and wrote the agreement will not address any of this unless I sign a new contract with him and hand over a new retainer of $10,500. It just happened to be that retainer balance went to zero the day the Judge signed the decree in January.
    My questions:
    Is this contempt?
    Can a modification like this occur without an Order to Show Cause from Judge?
    Can I submit an Order to Show Cause to have the Judge reopen this case?
    Would a contempt of court motion be more suitable than a Show Cause?
    Thank You!
    You didn't answer the question regarding what state you are in so it would be difficult to give you any specific information. However, the retainer does sound quite high for the specific circumstance. I suggest that you consult another attorney or two.

  3. #3
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Transferring Funds Prior to Settlement Award Being Awarded

    contempt would only be an issue if you can prove the court ordered the other party to not transfer funds from the named account. Without such an order, the other party can move their money about as they desire.

    You are being too dependent on the naming of the money. It isn't that you have to be paid from that account as much as the naming of the account is a reference to the money that is in the account. If the order says you get $XXXX as a share of the account in [bank], it doesn't matter if that account is closed or not or where the money actually comes from. It is a simple matter of; you are owed $XXXX and the other party must pay you.

    If they caused the situation such that there is a penalty for withdrawal where there was none in the named account, they should be held liable for the fees. Such fees would have typically been addressed in the order as it is an effective reduction of the money available and as such, should have been addressed somewhere in the calculation of the division of property.


    Basically all you want is for the court to enforce the order which would be to transfer the amount of money stated in the order to you. You didn't mention the state so nobody can research anything specific. Depending on how your state handles such matters, a show cause filing could serve the purpose but a motion to compel performance would be possible as well. You really aren't after a reason they haven't performed. You are simply wanting them to perform as the order directs.

  4. #4

    Default Re: Transferring Funds Prior to Settlement Award Being Awarded

    New York , sorry!

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