Thursday, July 20, 2017
As an experienced New Jersey Divorce Attorney, clients often ask me about how to access their spouse’s retirement plan. To see if your eligible to part of someone’s retirement plan, you need to know what was earned during the marriage. For example, if you worked 20 years at company but were only married for 10, then your spouse is only entitled to 10 years of the retirement plan. The date of the complaint is the end. The date of the marriage is the beginning. Any assets required during that term would be technically subject to equitable distribution.
Financial assets like a 401K, and 403B allow you to save money, and build up a pension. The Qualified Domestic Relations Order (QDRO) is a document that can divide the pension, and your entitlement to that pension is based on whether or not it was during the marriage.
Are you wondering if you are entitled to your spouse’s retirement plan? Contact our professional New Jersey Divorce Attorney for advice.
This educational blog was brought to you by Christopher Leon Garibian, an experienced New Jersey Divorce Attorney.