Splitting Your Retirement Plan During Divorce
Like other marital property, retirement assets are subject to division upon divorce. Pensions, IRAs, 401(k)s and other retirement savings can constitute a significant portion of a martial estate. Whether the plan is in your name or your spouse’s, it is important to protect your financial interests during a divorce.
Attorney Warren Welch has significant experience handling property division matters for divorce clients in Rochester and throughout the State of New York. He is committed to helping you achieve a financially stable, post-divorce future.
What Is A Qualified Domestic Relations Order (QDRO)?
A qualified domestic relations order is legal order that splits ownership in a retirement plan. Without a QDRO, the non-member spouses cannot obtain his or her equitable share of retirement assets. This applies to any 401(k)s, 403(b)s, IRAs and any employer-provided pension that falls under ERISA governance.
QDROs are complex and should be handled with care and attention to detail. A mistake could cost you the interest in retirement savings that is rightfully yours. Warren Welch has handled numerous QDROs for clients in Rochester and throughout surrounding areas. He is prepared to protect your rights and interests in this critical legal matter.