Common Contracts
1 similar Property Settlement Agreement contracts
IN THE COURT OF APPEALS OF MARYLANDProperty Settlement Agreement • July 18th, 2014
In this case, a divorcing couple entered into a property settlement agreement that included an allocation of future benefits from the retirement plan sponsored by the husband’s employer. In describing the parties’ understanding, the agreement used terminology appropriate to retirement plans governed by a federal law – although the husband’s plan was exempt from that law – and contemplated, incorrectly, that the divorce judgment itself would effect the division of the retirement plan benefits. Neither party took any action to put into effect the understanding concerning the retirement plan expressed in the property settlement agreement. After the husband remarried, he designated his new wife as his beneficiary under the retirement plan. Upon his death, a dispute arose between the former wife and the second wife concerning the former wife’s entitlement to a portion of the retirement plan benefits.
