The beginning of a new year often leads to financial planning, new goals as well as considerations of major life changes. January is one of the highest months for divorce filings in Louisville. One of the most common issues is the division of retirement accounts in a Louisville divorce. Pensions, 401(k)s, and other retirement accounts...
How is Retirement Divided in Divorce When Only Part of the Years Served Were During the Marriage
How is retirement divided in divorce when only part of the years served were covered by the duration of the marriage? This is a question of "marital property" and "separate property" and a recent Appeals Court case sheds some light on this issue. For example, if the retirement in question was based upon 30 years...
The Division of Retirement Accounts in a Divorce
How do you handle division of retirement accounts in a divorce? Most Louisville and Jefferson County divorce cases these days include the division of retirement accounts such as 401(k)s, IRAs, or pension funds. These assets are eligible for division as marital property in Kentucky. The process for ensuring that these assets are properly accounted for...
What is a QDRO and Why is a QDRO Important in a Louisville Divorce?
What is a QDRO and why is a QDRO important in a Louisville divorce? A Qualified Domestic Relations Order or QDRO is a legal document which allows the administrator of a retirement plan such as a 401(k) to actually act upon the orders of a judge in a Louisville or Jefferson County divorce. Retirement accounts,...