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On July 19, 1999, Mr. Seidel, Mr. Adams, petitioner, and Mr.
Fruitman signed a Stipulation and Order with respect to the QDRO.
This Stipulation and Order, which was stamped “Endorsed Filed
Aug. 3, 1999" by the Superior Court of the State of California,
requested that the Court issue an order as follows:
1. A completed Qualified Domestic Relations Order will be
prepared and submitted to the Plan for approval and the Plan
will advise counsel of their approval prior to the
signatures of the parties and their counsel and prior to
the submission to the court.
The parties presently have a partial community interest
($77,000.00) in Husband’s 401K and Husband has a partial
separate property interest in his 401K. The parties agree
that the sum of SEVENTY SEVEN THOUSAND DOLLARS AND ZERO
CENTS ($77,000.00) shall be withdrawn from the 401K plan in
Wife’s name, as an Alternate Payee, and paid over to
Wife’s attorney. The Plan’s administrators will
automatically withhold a portion of the Federal and State
tax obligation resulting from early withdrawal of the funds.
Wife’s attorney will pay out of the remaining fund balance
an amount sufficient to pay off the two (2) debts owed to
First Community Financial Services (in the approximate
amount of $28,000), which are secured by a deed of trust on
Wife’s home. The remaining fund balance shall be used to
pay Husband the sum of TEN THOUSAND DOLLARS AND ZERO CENTS
($10,000.00). Any remaining balance shall belong to Wife.
Wife’s attorney shall accomplish all disbursements from the
withdrawn funds within thirty (30) days of receipt. Any
proceeds remaining in Husband’s 401K plan shall be confirmed
to husband as his sole and separate property.
The QDRO issued by the Superior Court of the State of
California on August 3, 1999, was stamped “Endorsed Filed”. This
QDRO stated in paragraph 4:
The AP [alternate payee] account will be distributed upon
receipt by the Plan of an endorsed filed copy of this
Qualified Domestic Relations Order and an endorsed filed
copy of the Stipulation and Order that concerns this
Qualified Domestic Relations Order.
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