Learn About the Division of Retirement Assets in Divorce
During a divorce, there are many important aspects to consider relating to the division of property, assets and debts. One area that is often overlooked, however, is the division of pension plans and other retirement accounts, which may be complicated and difficult to accomplish. A Qualified Domestic Relations Order (QDRO) is a court ruling that directs how to distribute the benefits of a retirement plan according to previously agreed upon percentages.
At Thienel Law, in Maryland, our lawyers can help create Qualified Domestic Relations Orders that effectively divide retirement benefits for divorcing couples. Since this can be a very complicated area of the law, many family law attorneys do not write QDROs. As business law attorneys with backgrounds in taxation and finance, we understand how to meet tax and ERISA requirements while ensuring the division of benefits is equitable.
Learn more about Qualified Domestic Relations Orders in Maryland with the experienced attorneys at the Thienel Law Firm, LLC. Call for an initial consultation at 443-535-9715 and make an appointment to discuss your family law needs.
Importance of QDROs in a Divorce
For a couple in a long-term marriage, the value of pension benefits may be greater than the value of the house the couple owns. QDROs apply to the division upon divorce of retirement plans, including traditional defined benefit retirement plans, 401(k) accounts, thrift savings plans, profit-sharing plans, military plans, civil service pension plans and other qualified plans.
The administrator of the plan will be instructed on how benefits will be divided between the spouses. Since there are a variety of strategies that may be used to draft and implement these plans, it is important to work with a lawyer who has significant experience in this highly technical area of the law. Our attorneys frequently provide assistance to other family law attorneys who need assistance drafting these documents.
Learn More About Protecting Your Retirement Accounts
Let us help you divide your retirement benefits accurately in a divorce through the use of Qualified Domestic Relations Orders. Talk with us about your rights and get honest advice about your situation. Contact us to schedule an initial consultation at our Columbia, Maryland, office. Call 443-535-9715 for long-term solutions to important family law matters.
