QUESTION
In NYS if you filed oct 2009 and the divorce is still ongoing how are the assets divided up
Asked on Aug 16th, 2012 on Divorce - New York
More details to this question:
My question is mostly related to whats involved. She walked out Dec 2007 and we filed oct 2009.
I pay everything for the house, I have a 401 K from my job and a pension. I am retiring in 3.5 years.
Does she get 50 percent of everything from the point we filed or at the present time,
How is the retirement pensions and 401 K paperwork taken care of???
Does she get the 401 K money immedicatly after the divorce is final??
Thanks
1 ANSWER
Retirement accounts and pensions are divided through the use of Qualified Domestic Relations Orders, better known as QDROs. Attorneys prepare, pre-clear and then file the QDROs, which are normally signed by the judge as part of the package that grants you a divorce.
In a typical divorce the entitlement is to one half of the value of the pension/401k/IRA that is earned during the marital period, which is from the date of the marriage to the date of the first filing in the divorce.
Answered on Aug 17th, 2012 at 8:06 AM