Any retirement benefits that have built up during the marriage will be considered marital property and may be subject to distribution between the parties. Generally, each party is entitled to half of the benefits that accrued during the marriage. However, this is a topic that can be discussed and worked through via mediation until both parties are satisfied with the final resolution. Rather than distribute these assets, parties will often elect to take more of another asset, such as a piece of real estate or funds contained in another account. If these assets are to be distributed, you will generally need to obtain a court order directing the distribution of these assets, which is called a Qualified Domestic Relations Order (QDRO). We can assist you in obtaining a QDRO.
Our mediators will be happy to help you determine the best option for your family during this difficult time. Contact us now at (631) 419-6111 or contact us online for a Free Consultation.