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Posts tagged "retirement accounts"

Division of retirement funds deserves special attention

Keeping proper records related to retirement funds and beneficiaries is important because if you are in your late 40s, you may already have several different retirement plans of which you must keep track. If you are going through a divorce, there might be significant amounts at stake, and your financial future could be in jeopardy if the division of retirement accounts is improperly handled.

Can my spouse take my retirement savings in a divorce?

In a community property state, such as Texas, all marital assets are split 50/50 at the time of the divorce. While many people think they understand what this means, most don't consider some very important aspects of marital law that can affect their retirement in a potentially major way.

How QDROs are drafted is important

In Texas and around the country, qualified domestic relations orders are used to divide up pension benefits. A QDRO is intended to provide for two different circumstances, each of which mandates the order be drafted in a different way in order to give it its intended effect.