QUESTION

when getting a divorce, do one spouse have to give the other his share of 401K right away or till he or she retire???

Asked on Sep 18th, 2013 on Divorce - Ohio
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1 ANSWER

Family Law Attorney serving Columbus, OH
3 Awards
Usually a QDRO is filed (Qualified Domestic Relations Order) and there are rules about when the receiving spouse ("the alternate payee") can or will receive his/her potion of the benefits. If someone wants "his share" right away, then sometimes the spouse who is in the retirement plan keeps 100% of the retirement plan but transfers the other spouse some other assets  or takes on additional debt payments to make up for not having to transfer part of the retirement.  
Answered on Sep 18th, 2013 at 3:09 PM

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