This is not a typical topic for a blog post during a holiday week, but nonetheless it is an issue of which we should all be aware.
Going through a divorce can be analogous to the loss of a loved one. The emotional side-effects can be very difficult and the division of assets can be daunting. The negotiation of a QDRO (qualified domestic relation order, the document which directs the Plan trustee to divide the retirement account) is often yet another skirmish in the battle that is a divorce. Once the dust has settled and the divorce order and QDRO have been finalized, many people forget to take the final step: removing his or her former spouse as beneficiary of the retirement account. Continue reading “Divorced? Is your Retirement Plan Beneficiary Really Who You Think it Is?”