Seeking a share of an ex-spouse’s 401(k)
January 10th, 2009I recently had the priviledge to contribute as an expert on Jennifer Scott’s article for Bankrate.com entitled “Seeking an ex-spouse’s 401(k) can be thorny“. The finely written article gives advice on how to navigate the often dangerous waters of actually splitting a retirement account that has been awarded to one of the spouses of a divorce.
If I had to condense the article into a one-liner, it would be this: Have a knowledgable divorce lawyer draft up the separation agreeement and subseqent Qualified Domestic Relations Order (QDRO) as soon as possible to avoid loss of funds and headache. Here in Massachusetts, a divorce lawyer or a knowledgable financial advisor can easily work together to draft a QDRO before the divorce action is finalized.
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