Dividing retirement assets such as 401K’s and pensions as part of a divorce settlement require a Qualified Domestic Relations Order (QDRO). A Qualified Domestic Relations Order is a legal document that divides the assets in a retirement plan between spouses.
Because the employer’s retirement fund often requires the plan holder to initiate the starting date of the benefits, a QDRO should address when a non-plan-owning spouse can begin receiving benefits. The QDRO should also contain clear provisions for the retirement funds in the event the plan holder dies, whether before distributions begin or after – particularly important if the plan holder named a beneficiary other than the ex-spouse. Of upmost importance is to make sure that a QDRO is in place prior to finalizing your divorce.
Contact A Qualified Domestic Relations Order Lawyer
There the many financial considerations when divorcing such as who gets the family home, the financial support of children, retirement assets and more. If you have questions regarding a Qualified Domestic Relations Order in Wisconsin, marital property division or other family law questions, contact Probst Law Offices for personal and confidential help at 414-210-3135.