The preparation of QDROs and similar-like Orders are fraught with landmines. Although the basic requirements of a QDRO are straightforward and it seems simple, the preparation of QDROs are becoming plan specific and more complex. Attorneys and other professionals should pay close attention to each individual retirement plan and its unique rules and requirements. In […]
A QDRO, pronounced “QUAD-row” or “CUE-dro”, is short for Qualified Domestic Relations Order. This is a legal order that allows a divorced spouse to receive all or a portion of an employer retirement plan from their ex-spouse. The employee whose interest is being transferred is known as the “participant” and the individual to whom the […]
As is often the case in divorce, one spouse may not have a complete knowledge of the marital financial situation. Before productive settlement discussions can occur, both parties must be on the same page and have full financial disclosure regarding all the property and debt they acquired during the marriage. Agreeing to a property […]
When divorce is on the horizon, it becomes necessary to compile a list of marital property (assets and debts) and supporting documentation as early in the process as possible. But many people have difficulty locating the necessary information. Tax returns are a good place to start when trying to verify sources of income, and to […]
How each person comes to the conclusion to either remain in their relationship or proceed towards divorce will take a lot of soul-searching. No one source will provide all the answers. But there are a range of resources that can provide assistance in your decision-making. Following are five books that may help provide knowledge and insight for those comtemplating divorce:
If you believe that your marriage is on the rocks, or that your spouse is planning a divorce, it is essential to have a plan to protect yourself and make sure your family and your future will be secure. First, get your emotions in check, and curb your impulsive reactions so that you can properly prepare for and secure your financial future. Below are some steps that you should take as soon as you believe divorce may be a reality:
Divorce has a way of pulling the rug out from under you, even if you are the one who initiated the divorce. The adversarial nature can cause the process to be extremely expensive, and there are usually no “winners” in divorce. Splitting one household into two only multiplies the cost. However, education, planning and rational […]