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Splitting 401K, Pension or Retirement Plan in a North Carolina Divorce
North Carolina Divorce - Pension, Retirement Accounts, 401K Split http://www.mcilveenfamilylaw.com (704) 557-0131 Dividing your pension or retirement plan is probably one of the biggest assets you have as a couple. People often ask me "Is my retirement plan my own or is it marital property?" Depending on your side of things, either fortunately or unfortunately, it is marital property. Your 401(k) or your pension plan can be divided. Now, having said that, remember that simply getting a separation agreement signed does not get you your share of that 401(k) plan. There #39;s an extra step you have to take. When you file for divorce, you also need to get what we call QDRO or Qualified Domestic Relations Order. This is something a judge signs and it gives the administrator of the 401(k) plan the authority to divide off the part that is your spouse #39;s now, or that #39;s yours if you #39;re going to be the one actually asking for the QDRO yourself. Just signing that separation agreement does not do it for you. You have to take this extra step. I certainly recommend that if you have a separation agreement, that gives you part of a retirement plan, you do this as soon as you #39;re getting your divorce. If you don #39;t, you run the risk of your spouse taking all of that money and you #39;re trying to fight to get it back. If you have questions, you can always call us and talk to us about it. McIlveen Family Law Firm 401 North Tryon Street Charlotte, NC 28202 (704) 557-0131From:mcilveenfamilylawViews:0 0ratingsTime:01:47More inEducation

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Splitting 401K, Pension or Retirement Plan in a North Carolina Divorce - Video