Your retirement account could be a big ticket item during a divorce. Experienced family law attorneys will tell clients that pensions and related retirement benefits are vital assets of high value that should be addressed whenever one or both spouses have been employed during marriage. Clients may be told by an attorney that they need a QDRO (pronounced QUADRO). A QDRO is a qualified domestic relations order, which is a fancy description of what amounts to a court approved document that tells your Pension where the money should go after a divorce. This is another family law process that can cost between $1,000 and $2,000 dollars. But when do you actually need a QDRO? This chart shows when you need a special QDRO or when you can divide the pension without a QDRO. Make sure you know what type of retirement account you have before you walk into an attorney's office.
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