During the divorce process, an important goal is to divided marital assets in such a manner so as to limit tax effects and provide growth and/or income to one or both parties. For most couples today, the bulk of their retirement assets are held in employer’s 401(k) or defined contribution plans. A qualified domestic relations order (QDRO) is a part of the divorce process and is a document that lays out the division of the 401(k). You have to expect to pay the lawyer a separate fee to draft the QDRO, but you also may be charged an equivalent fee by the administrator of the 401(k) as explained in this article.
The divorce financial analysis provided by Samalin WealthDivorce Finance can help reduce such costs by optimizing the division of assets.