A Qualified Domestic Relations Order (QDRO) is a legal order issued by a court that provides for the division and distribution of retirement assets in a divorce or separation case. While QDROs are primarily used to deal with the division of retirement benefits, they...
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Property And Asset Division
Who drafts the QDRO during a New York divorce?
Professional couples in New York contemplating divorce have to address numerous different resources when negotiating with one another or presenting their case to a family law judge. Retirement savings are often a sticking point in divorce negotiations, as both spouses...
What happens to the marital home after the divorce?
When a marriage is broken beyond repair and the couple decides to divorce, one of the subjects they will need to address is the division of the marital property. Per New York’s marital property laws, this refers to the equitable distribution of any asset or debt...
A future inheritance is a good reason for a prenuptial agreement
Deciding to marry someone usually means sharing a majority of personal resources and future experiences with that person. Couples typically pool their income, cohabitate in a house and happily share their good fortune with one another whenever possible. However, there...
Can you keep your pet in a divorce?
Your spouse asks for a divorce, and you’re glad to see them go. You’ve also been thinking about a divorce, as it’s just clear that the relationship wasn’t working. The companion that you don’t want to see go, however, is your family pet. Perhaps you and your spouse...
Do not overlook your ex’s retirement plan
It’s crucial, when dividing assets during a divorce, that you don’t overlook any of the assets that you own. One reason that people sometimes leave things on the table is just that they don’t know the assets exist or they don’t know they have a right to them. One...
Important points to remember about property division
One of the most complex parts of a high-asset divorce is working through the property division process. Many people don’t realize how detailed this is until they’re trying to get it taken care of. Making sure that you get everything divided is crucial so you and your...
How to reduce the harm caused by shared credit cards in divorce
Sharing credit cards is a natural outcome of combining finances when you get married. Unfortunately, those joint credit cards can be a big complication when you file for divorce. Not only can they affect other areas of property division, but they can put you at...
Is continuing to co-own your home a good option after divorce?
If you’re contemplating divorce, one of the biggest decisions you and your spouse will need to make is what to do with your home. It’s likely the largest joint asset you have. If you’ve lived in it for a number of years and you’ve been raising your children there, it...
What is a QDRO and why do I need one?
A qualified domestic relations order (QDRO) is a legal tool that helps to make sure certain retirement plan providers pay out benefits as outlined within a divorce settlement agreement. Anyone that is getting a divorce should know about these documents and when they...