One of the assets that a lot of people have that they don’t realize is retirement benefits. For a lot of Americans their retirement account is handled through their employer and after an initial setup they sort of forget all about it, until they retire or until they get divorced and it has to be split up. As with all property acquired during marriage a retirement account that accumulates funds during marriage is marital property and thus must be divided in the property division portion of a divorce along with all other marital assets. The standard for the division is the same as all other property in that the courts strives for an equitable distribution, this usually means a 50/50 split but depending on the circumstances and when the account was funded and the balance accumulated there may be other calculations made.
Spiting up Your Retirement Account with a QDRO
A QDRO is short for a qualified domestic relations order and it is a special order from the court that is required to split up a retirement account between divorcing parties. Most property is dealt with by the divorce decree only and there is no requirement for an additional document or order from the court, but because of how most retirement or pension plans are handled a special order, the QDRO, is required.
Ogden Divorce Attorney | Getting Help Preparing a QDRO
If you are getting divorced in Ogden or other parts of Northern Utah and need help splitting up your retirement account and filing a QDRO then call the lawyers at Ogden Divorce Law today. Our attorneys can represent you in your divorce, fight to protect your property, and then draft and file the necessary paperwork, such as a QDRO, when the judge has made his decision. Call or email us today to find out more.