Dividing Retirement Assets in Your South Jersey Divorce
Retirement accounts—401(k)s, pensions, IRAs, and other employer-sponsored plans—often represent a couple’s most valuable asset. Dividing certain accounts in divorce requires a Qualified Domestic Relations Order (QDRO), a specialized court order that directs the plan administrator to pay a portion of retirement benefits to the non-participant spouse.
At Musulin Groves & Greenfield, we have extensive experience guiding clients through the QDRO process in order to secure their retirement assets.
What Is A QDRO?
A QDRO is a court order that allows retirement plan benefits to be divided between divorcing spouses without triggering early withdrawal penalties or immediate tax consequences. The order is sent to the plan administrator, who then distributes the benefits according to its terms.
Most employer-sponsored retirement plans — including 401(k)s, 403(b)s, and defined benefit pensions—require a QDRO for division. IRAs do not require a QDRO but must still be divided properly to avoid tax consequences.
Why QDROs Require Careful Attention
A lot is at stake. If the QDRO process is mishandled, problems arise that may cost thousands of dollars—or worse, result in one spouse never receiving his or her share. Common errors include wrong distribution amounts, missed deadlines, and unintended tax consequences. Some mistakes cannot be remedied later.
Our attorneys work with qualified QDRO specialists to ensure that each order is prepared correctly, submitted to the plan administrator on time, and fully consistent with your divorce settlement.
Our Experience with QDROs and Retirement Division
Founding partner Christopher Rade Musulin, Esq, has authored published articles on QDROs and retirement asset division, and has decades of experience handling complex equitable distribution matters involving pensions, deferred compensation, and executive retirement.
Partners Christina M. Groves, Esq., and Kimberly A. Greenfield, Esq., bring the same careful attention to ensuring that QDROs are drafted accurately and that clients’ retirement interests are fully protected.
Protect Your Retirement in Your New Jersey Divorce
Contact Musulin Groves & Greenfield, to discuss QDROs or any aspect of your divorce.
Call 609-267-0070 or contact us online.
We serve clients throughout Burlington County, Camden County, Gloucester County, and Mercer County—including Haddonfield, Medford, Moorestown, Mt. Laurel, Marlton, Shamong, Tabernacle, Pemberton, Maple Shade, Delran, Delanco, and Cinnaminson.