Property Division

New York Court Holds Pre-Marital Retirement Account Contributions are Separate Property

Many conflicts over property division in a divorce center on whether certain assets should be classified as marital or separate property. At a glance, it might seem that these designations are fairly simple. Most assets accumulated while a couple was wed are part of the divisible martial estate unless a valid agreement between the parties says otherwise. Conversely, property that…

Why You Need a QDRO to Divide Your Retirement Accounts After Divorce

Among the most valuable assets to be divided during a divorce are retirement accounts, such as pensions, 401(k)s and IRAs. However, the process of transferring the money from one spouse to the other does not happen automatically when the divorce is granted. Most retirement plan providers will not release funds without a qualified domestic relations order (QDRO). Unfortunately, a substantial…