Jessica, age 38, is just divorced after 15 years of marriage. During her marriage, Jessica worked on a part-time basis to supplement the family income. Under the terms of the divorce, Jessica will get half of the value of the pension plan assets that were earned during the 15 years of the marriage. She was able to get this benefit because the judge in the divorce proceeding issued a Qualified Domestic Relations Order (QDRO), a very important, and sometimes overlooked, piece of paperwork. The assets accumulated in pension plans during a marriage can be divided through negotiation as part of the divorce process. Determining the value of assets earned during the marriage can be complicated, and you may need to get professional help to figure it out. It is important for the attorneys to have access to the retirement plan provisions as soon as possible so that they can determine just what the plan will permit and finalize the agreement in a QDRO.
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