If you’re dividing a retirement account that is qualified, such as a 401(k) or a pension, your attorney will need to prepare a QDRO, which is a qualified domestic relations order. This is an order that will be entered with the courts that is then sent to the planned administer of the retirement account to effectuate the division. Non-qualified plans such as IRAs can usually be divided with a simple letter of direction and don’t require a QDRO.
Arin Fife is a family lawyer at Boyle Feinberg Sharma in Illinois.
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