Tips for Getting Your Retirement Plan Back on Track After a Divorce
Retirement accounts are typically one of the major assets married couples have. These accounts are considered marital property if they were acquired during the marriage. Couples who divorce as they are nearing retirement need to consider the long-term worth of each asset; trading away retirement assets in order to keep the house may be a sentimental choice but could end up being a foolish financial decision. Splitting a 401(k) or other qualified retirement plan requires the preparation of a QDRO (qualified domestic relations order). This order allows for the division of qualified plan assets in a tax-deferred manner for the
