DIVIDING A QDRO, PENSION, IRA, OR 401K PLAN IN DIVORCE
Bucks County · Montgomery County · Philadelphia County · New Jersey - Property Division Attorneys
Dividing retirement plans in divorce can be very complicated. When individual spouses have worked years building their retirement accounts, it is important to approach property division very carefully and accurately.
At Zlock & Snyder, P.C., we help clients understand their options in dividing various retirement and pension plans: IRAs, 401k plans, and more. Contact our firm to schedule a free initial consultation. Call 267-772-6111 today.
Is My Retirement Plan Subject to Division?
This is one of the most commonly asked questions relating to divorce and property division. The percentage of the retirement plan that is subject to division depends on how much of the retirement plan is considered separate or community property:
- Separate property — Property owned by an individual spouse. This can include any property acquired before the date of marriage or property gifted to one spouse and not the other.
- Community property — Property acquired during the duration of the marriage.
A retirement account started after the date of marriage is considered community property. A retirement accounted started before the date of marriage continuing into the marriage may be considered partly separate and partly community property.
Our firm works with valuation and tax experts in property division matters. We are mindful of the tax consequences of divorce, and aim to help you divide your property equitably and fairly.
What is a Qualified Domestic Relations Order (QDRO)?
A QDRO is a court order that assigns an alternate payee as the receiver of a portion of a retirement fund. An alternate payee can be a spouse, child, or other family member. Drafting a QDRO properly is critical, or the participant can suffer tax consequences.
Contact Us
To find out more about dividing IRAs, 401k plans, and retirement funds in divorce, contact a lawyer online or call 267-772-6111. We represent clients in Pennsylvania and New Jersey.
Evening and weekend appointments are available.
We are available 24 hours a day.
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