Skilled Maryland Attorney Assists Divorcing Clients with Retirement Orders
Columbia family lawyer delivers knowledgeable counsel on pension division
Distributing retirement benefits in a divorce is a complex process, and one that is best accomplished with the assistance of an attorney who is well-informed in this area of the law. At Beth L. Rogers, L.L.C., our Maryland family lawyer has extensive experience with all aspects of the retirement plan transfer process, from start to finish. Ms. Rogers advises clients who are entitled to a share of their spouses’ pensions, IRAs, 401Ks, ERISA plans, government plans, military plans, or other retirement benefits, as well as the owners of those plans. Whatever your particular needs entail in a divorce, we can help you develop an appropriate order for the allocation of retirement assets.
How are retirement benefits divided?
Like other assets in Maryland, retirement plans determined to be marital property (typically the value accumulated during the marriage) are subject to division in divorce. Maryland law allocates marital property according to the concept of equitable distribution, which is not necessarily a 50/50 split, but rather a reflection of what the judge believes to be fair after a review of the relevant circumstances. Factors that might affect this decision include:
- When retirement assets were acquired
- The length of the marriage
- Whether a party seeking a share of their spouse’s assets has the ability to fund their retirement themselves
Our attorney can help you understand your rights when it comes to the division of retirement benefits, whether your spouse’s or your own, and the process to formalize the correct allocation of those benefits as well as the survivor benefits.
What are the steps to transferring retirement benefits in divorce?
Most retirement plans require a qualified domestic relations order (QDRO), a Court Order Acceptable for Processing (COAP), or other retirement order to divide benefits among divorcing spouses. These legal instruments should be drafted and submitted before, or as soon as possible after the granting of divorce. Different plans have different processing requirements. If careful attention is not paid to the plan’s individual rules, it can prevent the intended distribution of benefits. We can draft and submit the appropriate order on your behalf.
How our attorney can help you receive retirement assets
Retirement benefit transfers can be complicated. Our attorney offers the following types of legal support to see the entire process is properly carried out:
- Provides advice on how to obtain correct and complete plan information
- Explains transfer options under plans including how and when benefits can be paid
- Prepares language for agreements that comport with plan rules
- Submits certified orders to plans for implementation and acceptance prior to completion of the case
- Assists clients in evaluating options associated with the distribution of retirement benefits pursuant to their divorce
Our family lawyer can assist with the preparation of retirement orders for federal, state and local government plans, military retirement plans, ERISA plans, private company 401ks and IRAs, as well as other non-ERISA plans when allowable.
Contact a knowledgeable attorney about dividing and transferring retirement plan benefits in your divorce
At Beth L. Rogers, L.L.C., in Maryland, our highly knowledgeable attorney provides in-depth guidance about the transfer of retirement plan assets from one spouse to another in a divorce. Call our law firm at 410-740-9996 or contact us online to arrange a free consultation to get started on this process.