Helping People Move Forward With Their Lives
Georgia Divorce Attorney Assisting In The Division Of Retirement Accounts
It’s extremely easy to make mistakes when it comes to division of retirement and 401(k) accounts during a divorce. For example, attempts to divide the accounts sometimes result in tax and financial penalties due to early withdrawal.
Faulhaber Family Law, LLC, understands the complexities of dividing retirement accounts up and methods for avoiding pitfalls when division of assets occurs. Ms. Faulhaber understands the numbers, and understands accounting and tax principles that apply to the division of such accounts.
Qualified Domestic Relations Order
A qualified domestic relations order (QDRO) provides the ability to reassign to another individual a portion of retirement benefits under a particular retirement plan. However, a QDRO must comply with federal and state requirements including those listed under the Employee Retirement Income Security Act of 1974 (ERISA).
Our lawyers frequently prepare QDROs for couples. We make certain that the division of retirement accounts occurs with a minimum of expense and tax consequences. We put together a model for spouses to follow regarding the division of retirement accounts and benefits. It is our practice to make certain wording of the QDRO is clear and takes into account every circumstance. We also take into account the naming of beneficiaries of such accounts when preparing the QDRO.
Access To Qualified Accountants And Experts
At Faulhaber Family Law, LLC, we put you in touch with accountants and other individuals who continually will be there for you. We work with these professionals in order to put together a long-term strategy that addresses all of your concerns regarding the division of benefits.