Transferring an ERISA account, like a 401(k), from one spouse to another can have substantial tax benefits, by delaying Required Minimum Distributions or avoiding early withdrawal penalties. However, one cannot simply transfer an account from one spouse to another under most circumstances without triggering adverse tax consequences. A Qualified Domestic Relations Order or “QDRO” avoids those adverse consequences. While a QDRO is most commonly used in a divorce context, divorce is not a requirement. Read on to learn more.
QDRO: Not Just for Divorce Anymore
- Decisions Beyond Possessions: Key Figures in Estate Planning - September 28, 2023
- Pet Trusts: Ensuring Your Pets Are Taken Care Of - September 27, 2023
- The Power of Health Care Directives - September 26, 2023