The short answer to this question is: yes. A pension plan is like a bank account or any other marital asset and can be divided by the court in a divorce case. However, the only portion of the pension plan that the court can divide is that part which you earned or acquired during the […]
Pensions, Retirement Plans, QDROs
How are retirement plan assets handled during a divorce?
A Qualified Domestic Relations Order, or QDRO, will specify the terms under which you or your former spouse can receive an interest in a qualified retirement plan, such as a 401(k) or pension. To avoid mandatory withholding, make sure the transfer is made directly from one qualified, tax exempt account to another. Rock A. Tate […]
What effect will my divorce have on health care coverage?
Be in the know when it comes to your current health insurance plan, especially if it belongs to the spouse you are currently permanently separating from.
Is it true the federal government does not accept QDROs?
The term QDRO, or Qualified Domestic Relations Order, applies to the private sector. Federal pensions are exempt from QDROs because they are exempt from ERISA, the Employee Retirement Income Security Act of 1974.
Will I still be covered by the plan after we divorce?
My spouse has a health plan through his work, will I still be covered by the plan after we divorce? Continuation of health insurance is one of the most important problems that couples face when they divorce. Because there have been some changes to the health care laws under President Obama, changes that are being […]
My spouse has a health plan, will I still be covered by the plan after our divorce?
Ask your spouse’s employer about their health care plan so that you can better make decisions regarding your own health insurance needs down the road.
My spouse has a health plan through his work. Will I be covered by the plan after we divorce?
Don’t let yourself be caught without health insurance. Learn more about your spouse’s health plan, and whether your divorce means having to find an alternative right away.
What is a QDRO, and who is it prepared by?
Learn more about how a Qualified Domestic Relations Order can be used to divide up retirement savings plans, pensions, and more.
What must I consider to make sure that I can survive financially post-divorce?
Things to consider to survive financially post-divorce: Money will almost always become an issue in divorce Many people start out thinking and believing the promise that things will always be divided evenly and straightforward Money is sometimes used as a bargaining tool to resolve other issues Gather everything you can about your family finances Many […]
Illinois Divorce Attorney and Family Practice Lawyers
Continuation of health insurance is one of the most important problems that couples face when they divorce. For the reason being that there have been some changes to the health care laws under President Obama, changes that are being challenged. Read more.
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