Employer-provided retirement plans are very important assets, and in a divorce proceeding, their importance rises to a whole new level. Certain retirement fund benefits may have one or more beneficiaries, but Qualified Domestic Relations Orders, or QDROs, must first...
Serving Rome, New York residents with legal issues
Month: April 2018
Gray divorce causing women to change financial habits
Gray divorce is the name for people who get divorced at age 50 or older. It has become a very common group in the divorce category, doubling in size since 1990. The rate of divorce in 1990 for couples with at least one person age 50 or older was just one in every 10....
Protect your assets in divorce with these tips
Once you've been told by your spouse that it's time for a divorce, you need to begin planning immediately. Don't waste a single minute. It's likely your spouse has been planning for this day for quite some time; he or she just hadn't mentioned it yet. You are now...
How to leave your pension to a loved one
A pension is an important financial asset that you have earned from your years of hard work. You can use the pension during your retirement to go on vacation, pay bills, put a down payment on a new home, buy a car and however else you wish to spend it. It is your...
Should you sign a postnuptial agreement?
Most Oneida residents probably know what prenuptial agreements are, along with the reasons for drafting them. Far fewer will likely have heard of postnuptial agreements or the various reasons couples may benefit from signing them. Could signing a postnup strengthen...
3 tips for protecting your retirement savings during divorce
As your marriage fades away, you do not need to let your retirement savings to go with it. You probably have concerns about your spouse getting a huge chunk of your retirement savings. The thought of watching your 401(k) or IRA go down the drain may be just as...