The imprisonment of Twin Cities auto dealer Denny Hecker has been all over the headlines during the last couple years. Since Hecker's financial and legal woes began, he and his wife have divorced. During their divorce, they made a property division agreement regarding Denny Hecker's retirement funds. Recently, a Minnesota court has ruled that the retirement funds owed to the ex-wife will be sent to Chrysler Financial instead.

In the spring of 2010, Hecker and his spouse agreed to split up their marital assets. As a part of the agreement, she would receive just over $72,000 from one of Denny's retirement accounts and he would get $96,000 from a separate account.

However, Hecker has massive debts, which amounted to $476 million at the time he filed for bankruptcy. Additionally, he illegally liquidated money from the retirement account, which was later partially re-paid by one of Hecker's friends. Chrysler Financial eventually garnished the ex-wife's payment and she tried unsuccessfully to block that move. An appellate court ruled that the cash lent to Hecker by the friend was "no longer exempt from creditors."

Though this divorce case is particularly convoluted, it underscores the complexities of family law and property division. Divorcing couples that have a significant amount of assets to divide face potentially stressful deliberation over how their marital assets will be split. In cases such as this, it is a good idea to utilize the services of a knowledgeable divorce professional. Someone with experience handling complex cases will be able to help navigate you through the intricacies and tension of a high-asset divorce.

Hecker's ex-wife was put in an especially tough situation, considering her ex-husband's prison time. However, her case shows that it's important to have a full grasp of your financial situation during the process of a divorce. Losing out on money you expected to receive is something everyone wishes to avoid.

Source: Star Tribune, "Hecker's ex-wife loses out on retirement cash," Dee DePass, Feb. 6, 2012