A QDRO or qualified domestic relations order gives a former spouse access to retirement plan interest in a divorce. Interest in a retirement plan can not be administered to someone other than the plan participant without a court-ordered QDRO. This may require...
In a divorce, retirement accounts are often some of the largest assets. When one of the spouses has a pension, that pension may be included as a marital asset that must be divided equitably between the parties. In New York, the courts typically use the Majauskas...
If you get divorced in New York state, you may be entitled to a portion of a former spouse's pension benefits. In most cases, the Majauskas formula is used to calculate how much an individual is allowed to receive. However, other methods may be used to create an...
The division of retirement assets in a divorce is a complex matter that requires special considerations. You can’t just look at the total on the most recent statement and go off that. One of the primary things that you need to determine is whether the retirement...
A Qualified Domestic Relations Order (QDRO) is a very valuable tool to use if you are getting divorced and your partner has a pension or a retirement plan. Even though they may not be retired yet, they earned a portion of that plan during your marriage, and that makes...
There's a lot of misinformation floating around about what happens in a divorce and what rights people have regarding pensions and retirement accounts. One mistake people make is to assume that their spouse is the only one with a right to the pension because the...
Whether you’re nearing retirement age or not quite there yet, your retirement or pension plan is likely one of your largest and most valuable assets. If you and your partner are headed towards divorce, any of these savings earned by your or your ex during your...
When couples get divorced, they sometimes endure seemingly endless negotiations about who gets what in the final decree. Dividing assets is never enjoyable for either party, but it is necessary. After all, when you put yourself and a large portion of your life into a...
When you have complicated assets to divide, like a pension, it's important to take a moment and consider all of the different things that your decisions today could affect for years to come. For example, here are some of the questions you need to think about when you...
When you are going through a divorce, you might have to take steps to protect your pension. While there isn't a good chance that you will walk away with 100% of it, there might be some hope for keeping your financial security intact. Before you automatically sign half...