There are several ways you can receive your share of 401(k) funds, some of which allow you to make investment decisions and some of which don’t.
There are also variations among plans in how disbursements can be handled. Some will allow a lump sum payment, others may not.
Where a lump sum can be paid out, you may simply roll the funds over into your own 401(k) or other retirement account.
This gives you control over the investments you make with the money right away, and adds to the value of your existing plan.
When distributing retirement assets, there are many issues that have be addressed that are very specific to each situation.
There are also tax implications that must be carefully considered when QDROs are created.
The experienced Queens divorce attorneys at Zelenitz, Shapiro & D’Agostino can help clarify the picture for you and strategize the most advantageous use of retirement funds.
Call us today at 718-523-1111 for a free consultation.