Typically, all community property interest earned during the marriage and any retirement plans, will be divided equally between the parties. There will need to be a separate order made in order to accomplish this, that is called a Qualified Domestic Relations Order (or QDRO, pronounced "cue-dro"). This is a requirement for the majority of retirement plans in order for the plan administrator to divide the retirement. There may be some separate property issues, as one party may have had an interest in the plan before marriage. That will all be taken into consideration when the QDRO is prepared. The QDRO would be prepared by an attorney that specializes in the preparation of QDROs, after the judgment has been entered. There will be an additional fee associated with having a QDRO prepared. A QDRO is not necessary to divide most IRA plans. In the alternative, a retirement plan can be valued and then be awarded to one party and offset with another asset awarded to the other party.
If you have any questions, please contact the Law Office of Laurel Peniche Gartman at (714) 283-2811. As a Certified Family Law Specialist, Laurel Peniche Gartman has been practicing Family Law for over 27 years in Orange County California.
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