Lancaster County 401(k) Pension Lawyers
Retirement accounts are one of the most valuable assets for many couples. If one spouse worked during most of the marriage and the other stayed at home, it is common for disputes over division of these accounts to arise during divorce.
At Montgomery & Zimmerer, L.L.C., our attorneys have nearly 20 years of combined experience handling divorce and related issues for clients in central Pennsylvania. We understand the importance of dividing retirement benefits fairly, because they are often the most valuable form of property a couple has. Pensions, 401(k)s and other retirement accounts are very complex, but you can trust that we have the knowledge needed to handle the issue efficiently and fairly.
If you have questions about retirement benefits, property division or any other family law issue, call (717) 459-4228 or toll free (888) 364-8169. You can also contact our law firm online.
How Are Retirement Benefits Divided?
In Pennsylvania, each spouse has the right to receive up to one-half of the other spouse's retirement benefits. To correctly divide retirement benefits, a Qualified Domestic Relations Order, or QDRO, has to be filed. As experienced Lebanon division of retirement benefits lawyers, we are very familiar with QDROs and can help you handle them the right way.
What Is a QDRO?
A QDRO is a court order that tells a retirement plan administrator to distribute the money in the account. They are very complex documents that must be filed during the divorce and approved by the plan administrator. Without the help of a lawyer, it is very easy to miss some of the details in the QDRO, and that could mean you lose your right to a share of your spouse's benefits.
Some of the retirement plans that require a QDRO include:
- Defined contribution plans such as 401(k) accounts
- Pensions for public workers
- Military pensions
- Employee stock ownership plans
- Defined benefit pension plans
- Thrift savings plans
- Stock purchase plans
Our Central Pennsylvania Divorce Lawyers Are Here to Listen and Help
The client-centered family law practice of Montgomery & Zimmerer, L.L.C., is our profession as well as our passion. On the heels of experience in other law firms, we founded our firm with the goal of focusing on people and their problems above all. Your family law needs are the reason we are here.
To schedule a consultation, please call (717) 459-4228 or toll free (888) 364-8169. You can also contact our Manheim law firm online.
