When a court grants a decree of divorce, it will also address the parties’ rights with respect to the assets they acquired during their marriage, including retirement assets such as 401(k) accounts, IRAs, and pensions.
While the Utah court decree deals with each person’s rights to retirement assets, a separate order from the court is often required in order to effectuate the actual Division of Retirement in divorce. This separate order is sometimes referred to as a Qualified Domestic Relations Order or QDRO.
Once signed by the judge, the QDRO acts as instructions to the account administrator to divide the retirement account in accordance with the terms of the divorce decree. This is usually done by splitting the retirement into two separate accounts, one for each party. Splitting the account through a QDRO avoids the often-heavy tax penalties associated with simply withdrawing the funds and dividing them up
After the account has been divided (Division of Retirement) according to to the QDRO, each party is typically free to do whatever they want with the retirement account, including cashing it out (subject to normal tax and/or penalties) or leaving it as is (and avoiding those taxes and/or penalties).
While some parts of a QDRO’s content are required by federal law, each account administrator has their own preferred style and wording for different retirement programs. This combination of mandatory content with varying styles can make preparing a Division of Retirement in divorce and preparing a QDRO complicated and confusing.
Getting help from a divorce attorney who understands Utah Division of Retirement will help ensure that you get the proper amount of retirement you are entitled to. A knowledgeable divorce attorney can take action to see that the divorce decree is properly implemented in an efficient and cost-effective manner.
Contact Burton Family Attorneys in Ogden, Utah today to discuss your retirement division!
Going through a divorce is difficult for everyone involved. Our goal is to help our clients navigate their divorce case with knowledge and compassion so they can focus on their family.
We have assisted and successfully represented numerous clients dealing with paternity issues. Because of our experience dealing with a wide range of paternity-related cases, we can assist clients whether or not they claim to be the father of the child.
Whether you have a custody battle resulting from an ongoing divorce, or if you’re an unmarried parent fighting for custody of a child, the attorneys at Burton Attorneys at Law have the experience to handle your case.
In Utah, by law, every child is entitled to the support of both parents, whether the parents are married or not. Although Utah law provides child support guidelines used by the courts to calculate a parent’s base child support obligation.
Simply stated, mediation is a non-binding forum for a divorcing couple to work out the terms of their divorce with the help of a trained mediation specialist. The only requirement of mediation is that a party attend and make a good faith effort at resolution.
We recommend attending mediation with the help of a legal professional. Mediators are neutral parties who cannot give legal advice. Mediation will involve the discussion relating to all your divorce issues including real estate and personal property issues, division of financial assets (401k, stocks, bonds, etc.)
Step-parents often develop a strong bond of love and affection with a stepchild. As a loving figure in a step child’s life, it may be in everyone’s best interests for a step parent to seek an adoption and make the relationship legal.
When a family member, friend or loved one passes away, his or her estate may have to go through a court process referred to as probate. This is the process whereby the Court appoints an individual, or sometimes multiple individuals, to gather, manage, and ultimately distribute the assets of the one who passed away.
There is no set formula to determine when, or if, a party should receive alimony (spousal support) from a divorcing spouse. In determining alimony the courts will consider the needs of the party requesting alimony, the ability of that party to provide for his or her own needs, and the ability of the other divorcing party to pay alimony.
At Burton Law Firm, our family law attorneys have extensive experience assisting clients through all areas of family law. By leveraging the combination of skill with years of experience, our attorneys will do everything in their power to achieve the outcome desired by their clients.
When a Court grants a decree of divorce, it will also address the parties’ rights with respect to the assets they acquired during their marriage. This includes retirement assets, such as 401(k) accounts, IRAs, and pensions.
A guardian helps an individual care for their physical well-being while a conservator helps an individual handle their financial affairs. By appointing a guardian and/or conservator, you are providing your loved one with the assistance of someone who cares in order to help them handle day to day matters and to make important legal decisions.
Contact us today for a consultation with an attorney. During the meeting, you will be advised of your options as well as the cost of pursuing each option that you have. To more efficiently serve you, we encourage you to organize pertinent documents before your initial consultation if possible.
3785 Harrison Boulevard #1
Ogden, Utah 84403
(877) 447-9997 (Toll Free)
To discuss your case with an attorney, call local (801) 393-1106 toll free (877) 447-9997 or fill out the contact form below. Our office is conveniently located in Ogden, Utah and we serve the entire Wasatch Front. Hablamos español.