The Law Office Of

Neal Jacobs

8118 Corporate Way, Suite 110, Mason Ohio 45040

NJ

Qualified Domestic Relations Order

One of the most valuable assets acquired during a marriage is an individual’s 401(k) or other retirement accounts. These include public sector pensions and public retirement plan benefits. Division of these assets must be addressed during a divorce or dissolution, and is critical to assure that the non-account holder is protected in retirement. 

To assure the proper division of a 401(k), pension or other retirement accounts the parties may need to utilize a Qualified Domestic Relations Order (“QDRO”). A QDRO is an order that addresses these funds, and establishes a former spouse’s legal right to a percentage of the qualified plan or pension.

In other words, the former spouse becomes a co-beneficiary of the existing qualified plan or pension account. A QDRO has important tax and estate planning implications. It should be handled with the assistance of a lawyer, in conjunction with an accountant or financial advisor.

A QDRO involves important financial and estate planning considerations, and your attorney should work with a CPA, or other financia expert, to ensure that all tax issues are addressed and that you are protected. The Law Office of Neal D. Jacobs assists clients to prepare QDRO’s.  If you have a question relating to a QDRO you should call phone Neal D. Jacobs at (513) 229-0302 for an initial consultation.

 

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