When you use a qualified domestic relations order (QDRO), you can split up a retirement account, such as a pension plan. If your spouse is receiving a pension from their employer, there’s a good chance you were counting on this money to retire. You don’t necessarily...
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Division Of Pensions
What happens when one spouse won’t sign a New York QDRO?
Dividing property is often one of the most challenging aspects of a divorce, as spouses often disagree about what is fair. Those with larger marital estates often have more valuable assets to address, and they may have issues with non-compliance even after the end of...
Why a QDRO is a very valuable tool during divorce
A QDRO, which stands for Qualified Domestic Relations Order, is a legal document that is typically used in the context of divorce or separation to divide employment-sponsored retirement accounts, such as 401(k)s and pension plans, between divorcing parties. It is a...
Is a QDRO worth the money spent on drafting the document?
Divorce can be a very lengthy, stressful and expensive process. The average person will breathe a profound sigh of relief when they have fully resolved their divorce. Signing an agreement related to property division or getting a final order from the courts may make...
The challenge that arises if people fail to draft or file a QDRO
High-asset couples that have acquired valuable property during their marriages often experience major challenges when they prepare for divorce. Dividing their resources can be very difficult. Retirement accounts are among the assets that can be the biggest challenge...
What is the Majauskas formula?
Retirement benefits must often be split between two individuals who are getting divorced. This arrangement may be particularly appropriate if one person has a pension plan or another type of employer-sponsored retirement plan and the other does not possess a similar...
Do you need a QDRO in your divorce?
Division of assets during a divorce can be complex. With all the intricate processes and documents, you may end up not pursuing certain things that can benefit you. And one of them is a qualified domestic relations order (QDRO). A QDRO allows an ex-spouse to pay child...
How much of the pension will a QDRO give you?
If your spouse has a pension plan and you’re thinking about asking for a divorce, you may be concerned about losing that pension. Many couples plan to retire for decades, so you may have been doing a lot of planning based on this retirement account. If getting...
Will a QDRO give you your spouse’s entire pension?
Your spouse has a pension and it's a very valuable asset. In fact, it is the main fund that you plan to use when you retire. Your spouse has worked at this job for decades in part because they want those pension payments. But now you are getting divorced, so you're...
Dividing your pension during divorce
When you and your spouse have decided that you’re going to divorce, you may need to divide your pension. If you have a pension as a part of your retirement plan, you will need to determine the kind of plan it is actually a pension or if it is a contribution retirement...