Dividing Retirement Benefits
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To divide retirement benefits in a divorce or legal separation, you will need what is called a Qualified Domestic Relations Order (commonly referred to as a “QDRO”).
A QDRO is a Court Order that allows retirement benefits to be divided between spouses with no tax implications or penalty. The money is not distributed (causing a taxable event), instead the money is rolled over, pursuant to this Court Order, from the paying spouse to the recipient spouse.
There are many different types of retirement benefits and each plan has different requirements for approving and processing the QDRO.
We will prepare the QDRO, obtain plan approval and then submit the QDRO to the Court for entry by the Judge.
As retirement benefits can be a very large amount of the marital community’s value, it is important that these retirement benefits are divided for an equitable allocation of the marital estate.
Call today to schedule your free consultation with our experienced QDRO Attorney Max N. Hanson, Esq.
