An important aspect of divorce proceedings is the division of marital assets and debts. A major portion of the marital estate often contains the parties’ retirement benefits. These benefits generally include IRAs, 401(k) plans, 403(b) plans, deferred compensation packages and pensions.
The income in these respective plans may be marital property and thus, subject to equitable distribution. The division of these plans may require a Qualified Domestic Relations Order (QDRO) which is an Order directing the division of these assets. It is imperative to have an attorney who understands the legal and tax issues associated with QDROs.
Attorney Ross S. Gelber is well versed in the division of defined benefit plans. Please contact him at 716-632-5919 or at email@example.com for more information.