(Court opinion corrected 2/4/19.) Executor filed complaint seeking declaratory judgment as to funds from the decedent's 401(k) retirement account. Court properly entered judgment in favor of executor and against decedent's ex-wife, who was named as primary beneficiary on 401(k) account. Broad waiver language in divorce decree, stating that each party was forever relinquishing all property rights and claims which each has or may hereafter have against the property of the other, unequivocally encompassed all property rights of any nature, including the beneficial property interest in the decedent's 401(k) account. Waiver language of divorce decree terminated ex-wife's interest in the 401(k) account proceeds, independent of ERISA or the Trusts and Dissolutions of Marriage Act (TDMA). (DELORT and CONNORS, concurring.)
Illinois Appellate Court
Civil Court
Probate