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Retirement Division (QDRO)
When a couple becomes divorced, some financial assets can be difficult to divide. Retirement savings can be especially difficult, as many put their retirement savings into an account which is largely inaccessible until a certain time. Liquidating this account early could have financial consequences. However, as retirement savings often represent the bulk of a couple’s financial assets, it’s essential that these funds are evenly and fairly divided.
Although issues of family law are largely determined by the state, certain regulations surrounding financial planning and retirement funds must adhere to federal guidelines. A QRDO helps bridge this divide. During a divorce, each party agrees to a Domestic Relations Order (DRO) which designates the fair division of assets. If one party has a private pension plan, the other party can use a Qualified Domestic Relations Order (QRDO) to establish their legal access to the proceeds of this retirement plan.
If your divorce necessitates a QRDO in order to ensure fair division of assets, Reppucci & Roeder can help. We have extensive experience in understanding the ins and outs of financial assets during a divorce, and can help you secure your fair share.