In New York, one of the topics frequently in a divorce matter is equitable distribution. This is also known as a division of marital property. We have previously discussed this HERE.
One type of marital property is a spouse’s retirement or pension that was earned during the marriage.
The issue is that most retirement or pension accounts cannot be used until the participant is a certain age, otherwise there can be financial or tax penalties.
In a divorce action though, attorneys can create a Qualified Domestic Relations Order or a Domestic Relations Order (sometimes abbreviated respectively as QDRO, DRO). This allows various accounts to be divided without a taxable event occurring.
We are experienced at handling various types of QDROs, DROs, Military Pensions, 401(k), 403(b), Roth IRA and other types of deferred compensation division.
Qualified Domestic Relations Orders (QDROs) are complicated so you should meet with an experienced divorce lawyer - even if you think your matter will be easy or straightforward.
The Underwood Law Firm is one of the few firms in the Syracuse area that offers free consultations on QDROs and DROs so that everyone has an opportunity to speak with an experienced attorney about their case.
The Underwood Law Firm handles all aspects of family law including child custody, child support, separation, adoption and divorce cases in the following areas: Syracuse, Utica, Albany, Watertown, Oswego, Binghamton; Onondaga County and Madison County, including the towns, cities and villages of: Fayetteville, Manlius, DeWitt, Morrisville, Cicero, Liverpool, East Syracuse, Syracuse, Baldwinsville, Camillus, Clay, Fabius, Elbridge, Geddes, Jordan, Lafayette, Lysander, Marcellus, Minoa, North Syracuse, Otisco, Pompey, Salina, Skaneateles, Spafford, Tully, Van Buren, Eaton, Cazenovia, Canastota, Brewerton, Solvay, Central Square, Cato, Chittenango, Oneida and many other areas.
Updated: 1/07/18
