Dividing Retirement Assets When A Marriage Ends
Retirement assets — such as a pension or a defined-contribution plan — can be a substantial part of a couple’s shared marital estate. If you and your spouse decide to divorce, the equitable division of your retirement accounts can present numerous questions and challenges. A mistake made when dividing the retirement account can result in the plan benefits being unavailable when they are most needed.
The Ramage Law Group focuses their practice on family law matters, including divorce and property division. Our attorneys understand the intricacies of retirement asset division and can guide you through the process so you can protect your future financial security.
What Is A Qualified Domestic Relations Order?
During your divorce, you will divide your assets, including retirement assets. However, you will need a specific type of order, a Qualified Domestic Relations Order, or QDRO, to divide the retirement account. This Order will make the non-participating spouse an “alternate payee” to the retirement account so that he can receive his interest in the account and must be approved by the Plan Administrator.
Protect Your Future
Whether your retirement funds are in a military retirement account, a pension, or another type of plan, come to The Ramage Law Group for candid advice and creative ideas for divorce settlement solutions. We serve the north Dallas communities of Denton, Frisco, McKinney, Plano and Allen, Texas, and generally Collin and Denton counties. Set up an introductory appointment by calling us at 469-899-3533 or emailing us.