In short marriages in Brooklyn, and especially when the couple is younger and both are working, retirement savings may not amount to much, and may not be much of an issue in the divorce.
In cases where they are, the judge will issue a Qualified Domestic Relations Order (QDRO) that directs the manager of the 401(k) plan to create a separate account for your former spouse and fund it as ordered.
Retirement savings that accrued during a marriage are considered marital property, and in a long marriage, making sure that a lower-earning spouse has access to a share of those funds is critical to ensuring an acceptable standard of living post-marriage.
Because your divorce is shorter, your circumstances may be different, and your spouse’s needs may be different.
The attorneys at Zelenitz, Shapiro & D’Agostino can help you get the best settlement available in your divorce.
Call us today at 718-725-9601 to speak to an experienced Brooklyn divorce attorney for free.