So, you’re there! You’re divorced! You take a look at the final Decree, and breathe a sigh of relief. But, here are a few suggestions to make sure all of those pesky loose ends of tied up neatly.
If as a part of the Decree, you have been awarded a division of retirement accounts, make sure the accounts are actually transferred to your individual account, set aside in your individual name, or reserved in your name for distribution at a future date pursuant to the plan. If the plan is a “qualified plan,” such as a 401(k) or pension, follow up with your attorney within 60 days to make sure the appropriate Qualified Domestic Relations Orders have been sent to the plan administrator. [Beware: QDROs may take several months to be approved by the plan administration, so calendar follow up dates every three months until confirmation that the account has been transferred is received.]