Le Tip of Parsipany New Jersey-A business networking group

Samantha Hirtler, Esq. – Attorney

Samantha Hirtler family law

 

Samantha E. Hirtler, Esq.
Associate
Helfand & Associates
575 Route 10 East, Suite 1
Whippany, New Jersey 07981
(Phone) 973-428-0800; (Fax) 973-428-0830
associate@tanyahelfand.com

This morning, Samantha shared with us how the courts handle the distribution of retirement assets during divorce proceedings. 

DIVORCE AND QUALIFIED DOMESTIC RELATIONS ORDER (QDRO)

All or a portion of a spouse’s retirement assets are commonly distributed as part of a divorce.

As part of the divorce settlement, the parties will agree on either a percentage or dollar amount to be distributed.  In order to implement the distribution, a Qualified Domestic Relations Order (“QDRO”) will be prepared for the judge to sign.

The QDRO will state the portion of the account to be distributed and it will direct the financial institution managing the account – the “plan administrator” — to disperse that portion to the nonparticipant spouse in accordance with the plan terms.  There is no tax penalty for this distribution.

Screenshot 2016-06-08 06.45.16

 

Latest Posts

What our members say . . .

Tom Grant
R.S. Beam Financial

"I enjoy the friendships that have fostered among the members, the knowledge I obtain from fellow entrepreneurs and the business I have received."

Elliot Gorman
Business Insurance Planning Services, Inc.

"LeTip works for me because it eliminates the “stranger anxiety” people would have appointing without meeting me. The referrals I receive from the members of LeTip of Parsippany are wonderful."