Ok, we’ve agreed upon the division of all property, including retirement plans and the agreement has been filed. Are we finished?
No, and this is where individuals can really be hurt in the process. No matter what your agreement says about your retirement plans, they will not be divided unless your attorney has filed a Qualified Domestic Relations Order (QDRO). We recommend that QDROs be drafted and approved by Plan Administrators prior to signing the final agreement.
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John Faggio is the managing director of Faggio Financial, LLC (www.divorce-finances.com), Maryland's only exclusive matrimonial finance practice. John is a CPA, a Certified Financial Planner® Professional, and a Certified Divorce Financial Analyst (CDFA®).