For example, theThrift Savings Plan (TSP)—adefined-contribution planfor federal employees and members of the uniformed services—requires that the division of assets be clearly spelled out and referred to as the TSP balance directly in the divorce decree. Aqualified domestic relations order (QDRO)...
A qualified domestic relations order (QDRO) is a court decree that mandates how assets in a retirement plan or pension fund will be divided in a divorce. The QDRO may specify the amounts to be paid to a former spouse, child, or other dependent for child support, alimony, or marital prop...
In addition, it may be possible to negotiate a different split than 50/50 by trading the value in one asset for another. For example,one spouse may want to own the family home after a divorceand if that’s the case, he or she may be willing to give up a greater share of any reti...
Alimony is intended to provide “reasonable and necessary” support and is generally awarded in divorces in which one spouse makes substantially more money than the other.1The rules governing this included that alimony had to be clearly specified in the divorce agreement, with any payments made eit...