How will the division of retirement plans in a Louisville divorce be accomplished? Why is the division of retirement accounts, pension plans, 401(k) accounts, IRAs, Roth IRAs, SEP-IRAs, family owned business and privately funded plans, state employee and teacher’s retirement systems so contentious in a Louisville divorce? Retirement accounts are quite often the second largest...
What Will Happen With My 401k and Retirement Plan in Our Louisville Divorce?
What will happen with my 401k and retirement plan in our Louisville divorce? Retirement and pensions is often something a client hasn’t even thought about when we bring up the subject of property division. “You mean (she/he) gets HALF of my retirement?” Money, especially money associated with retirement, deeply concerns most of our clients. In...
How Will an KTRS Retirement Account Be Divided in a Louisville Divorce
How will a KTRS retirement account be divided in a Louisville divorce? Teachers have a unique retirement plan here in Kentucky known as the Teachers Retirement System or KTRS. What happens when one (or both) of the spouses is a teacher during a divorce? Generally speaking, retirement accounts which were established or contributed to during...
What is a QDRO?
What is a QDRO in context of a Louisville divorce? How are retirement plans and accounts managed in a Louisville divorce? A Qualified Domestic Relations Order (QDRO) is a legal order which tells the administrator of a retirement vehicle to divide the plan or account, as well as how to do so. Retirement plans such...