GOLDMARK FINANCIAL PLANNERS, LLC

We Are:

Wolfgang T. Sailler
Certified Financial Planner ™

Joseph D. Witt
Certified Financial Planner ™

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401(k) & TSA participants
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PO Box 5190
Salem, OR 97304-3060

Call or Write:
Office: (503) 375-0208
Home: (503) 587-9811
Fax: (503) 371-2615
wolfgang@goldmarkfp.com

Retirement Assets and Divorce: What is a QDRO?

November 11, 2015

For a married participant in an employer sponsored retirement plan or an IRA the spouse is designated as the primary beneficiary unless s/he waives this right in writing.

If you or your spouse are each other's beneficiary of retirement assets a document known as a Qualified Domestic Relations Order, QDRO for short, will be part of the divorce settlement, spelling out how those assets are going to be divided. Payments can go to the former spouse, child or other party.

Such payments can be taxable, but if a former spouse is able to roll the distribution to another qualified retirement plan the transfer would be non-taxable and the transfer amount becomes part of the assets in that plan. In the case of an IRA transfer the former spouse can open a receiving IRA or roll over to an existing IRA and the transfer would be tax free as well.

Contact Us

(503) 375-0208
wolfgang@goldmarkfp.com

 

 

 

PO Box 5190
Salem, OR 97304-3060

 


 

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Goldmark Financial Planners, LLC, is a Registered Investment Advisor Firm in the State of Oregon. Prior to any advisory work conducted outside Oregon, Goldmark Financial Planners, LLC, would become registered in that jurisdiction or qualify for an exemption or exclusion to the registration.

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