• Skip to primary navigation
  • Skip to main content
  • Skip to footer
 847-495-6000
  • Facebook
  • LinkedIn
  • Twitter
Libertyville Divorce Lawyer, Lake County

Libertyville Divorce Lawyer, Lake County

Former Assistant Attorney General

  • Home
  • About Us
  • Attorney
    • Ronald L. Bell
    • Ronald L. Bell Media
  • Practice Areas
    • Family Law
      • Divorce
        • Uncontested Divorce
        • Same-Sex Marriage & Family Law
      • Child Support
      • Spousal Maintenance
      • Post-Decree Modification
      • Domestic Violence
      • Prenuptial Agreements
      • Child Custody & Visitation
        • Child Removal
      • Marital Asset Division
        • Non-Marital Property
        • Divorce with a Business
        • Disputes Over Personal Injury Proceeds
        • Division of Retirement Accounts
      • The Divorce Process
    • Personal Injury
      • Personal Injury Information Center
      • Truck Accidents
      • Pedestrian & Bicycle Accidents
      • Motor Vehicle Accident
      • Car & Motorcycle Accidents
    • Drug & DUI Defense
      • DUI
      • Drug Possession
      • Domestic Battery
    • Medical Malpractice
      • Failure to Diagnose Cancer
      • Birth Injuries
    • Business Law & Litigation
  • Reviews
    • Case Precedents
    • Photo Gallery
  • Forms
  • Blog
  • Contact Us

Qualified Domestic Relations Order or QDRO

You are here: Home / Property Division / Qualified Domestic Relations Order or QDRO

June 24, 2021 by Law Offices of Ronald L. Bell

The division of marital property in a divorce includes dividing retirement accounts and pension benefits. When dividing these assets, a couple typically will use a Qualified Domestic Relations Order or QDRO.

For 401k accounts, a QDRO directs the retirement plan administrator to withdraw a specific amount of funds from the account and transfer them to the other spouse. By doing it this way, there are no fees for withdrawing prior to retirement age, and, if the recipient spouse rolls over the funds into their own retirement account, taxes on the amount withdrawn can be avoided.

Pension accounts are different in that, more often than not, the amount of benefits the ex-spouse will receive is unknown at the time of the couples divorce. Therefore, a QDRO typically spells out a percentage of the pension benefits the ex-spouse is entitled to when the pension holder retires and begins reconvening benefits. Often, this percentage is based on the number of years a couple is married, but there may be other factors that may be considered or ways of divvying up retirement funds to achieve an equitable division of retirement assets.

When you are considering divorce and have questions regarding the division of marital assets, such as a pension and 401K, contact the Libertyville Illinois family law offices of Ronald L Bell & Associates answers today at 847-495-6000.

Category iconProperty Division Tag icon401ks pensions IRA's in a divorce,  how to split retirement accounts in a divorce,  Illinois QDRO marital property division lawyer,  Qualified Domestic Relations Order (QDRO)

Footer

Child Support Calculator

Calculate Support

Expertise Badge 2021

Search

Ron Bell wrote the book on Divorce in Illinois. Click here for free copy.

Divorce Book Available on Amazon

Ronald L. Bell & Associates P.C

Divorce Attorney

1113 S. Milwaukee Ave. Suite 204
Libertyville, IL 60048
Phone:  847-495-6000
Emergency Phone:  847-702-7502
Fax: 847-495-6001

Directions

Ronald L. Bell & Associates P.C. represents clients in Libertyville and throughout Northern Illinois, in areas including Chicago, Naperville, Vernon Hills, Gurnee, Barrington, Buffalo Grove, Deerfield, Fox Lake, Grayslake, Highland Park, Bannockburn, Lake Bluff, Lake Forest, Lake Villa, Lake Zurich, Lincolnshire, Lindenhurst, Mundelein, Waukegan, Zion, Crystal Lake, River Woods, Deer Park, Round Lake, Palatine, Rolling Meadows, Inverness, Prospect Heights, Arlington Heights, Schaumburg, Lake County, Cook County, McHenry County, Dupage County and Kane County.

© 2023 · Ronald L. Bell & Associates P.C. All rights reserved · Disclaimer · Privacy Policy · Sitemap · Return to top