Dividing Retirement Accounts [QDRO]
Qualified Domestic Relations Order (QDRO)
Under California law, most properties acquired after the date of marriage will be classified as community property, and as such, it will be subject to division in your divorce. When it comes to retirement accounts, nearly all, or at least a portion of the retirement account, will in fact be classified as community property.
You may be concerned about the penalties and other fees associated with dividing your marital retirement assets. Here is where a QDRO comes in. A QDRO is a particular kind of court order that allows parties who are getting divorced to divide certain retirement benefits without incurring added costs.
Why You Need a Legal Counsel
Without proper legal counsel and a court order to divide the retirement accounts, you could incur a 10% penalty and other fees under ordinary circumstances. Division of the retirement assets and the tax implications associated with it is crucial when finalizing your dissolution of marriage.
How We Help
Many of our clients are professionals, entrepreneurs, executives, or the spouses of high earners. We provide sophisticated analysis and strategies to divide your marital wealth.
Our firm will streamline your retirement property division, creating a seamless process from beginning to end. We will draft the QDRO petition, establish pre-approval by the plan provider, and have it finalized by the court. Our firm can provide mutual representation between you and your ex-spouse while dividing your retirement assets to eliminate any unnecessary and additional legal fees.
Eliminate the Cause of Litigation
Our firm also offers valuations in determining your separate and community property interest in your retirement accounts. We use proven algorithms to ascertain your interest in a retirement account(s), thereby eliminating the cause of litigation and extraordinary legal fees to have the court determine the same issue(s).
Why You Need to Focus on Retirement Division
The legal and financial issues that arise in the retirement division are critical in divorce. In many cases, retirement benefits are one of the largest assets in a divorce. From the start of your case, the retirement benefit division should be included in the discussion.
A failure to focus on retirement assets could cause you to lose a fortune in valuable benefits that can be secured by a QDRO!
