Protecting your finances during a divorce

There are over 800,000 people who undergo a divorce proceeding in the United States each year. If you are considering ending your marriage, it is important that you know what will make it possible for you to protect your financial assets and investments.

One useful tool is the Qualified Domestic Relations Order. A QDRO is a document used by the courts to divide qualified retirement plans such as pensions or 401(k) plans. You need to be sure that it is approved by your retirement plan. Atlanta-based BT Wealth Management wealth adviser Terri Munro said one problem a person can encounter with the QDRO is when it is “unclear or delayed.” Munro says to “ensure the QDRO outlines a specific date of division, and if the division includes gains or losses since that date, income benefits such as pensions may have to be recalculated based on the receiving spouse’s life expectancy”.

Contact Alexander & Associates today if you need a legal representative who will fight for your rights and future when you are embroiled in a family legal matter. Our attorneys have years of experience dedicated to helping you through difficult divorces and spousal agreements. Call our North Texas offices today at (972) 420-6560 to speak with a member of our legal team today.