A Qualified Domestic Relations Order (QDRO) can help you secure the share of your spouse’s retirement benefits you are entitled to when you divorce. You can take one out at the time of the divorce or can do it later. Does that mean you should mark it as something to...
In New York, divorcing couples can use a variety of ways to divide the portion of the retirement benefits that will be paid to an ex-spouse as part of the divorce settlement. Once the spouses reach an agreement, the information will be included in a QDRO or qualified...
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...