QDROs are qualified domestic relations orders–a special court order used to divide retirement plans in a divorce or child support action. Often in a Texas divorce they divide 401k plans and pensions. Benefit laws and the Texas Family Code require QDROs to divide these plans. A major concern for people who divided retirement plans in […]
How much does a QDRO cost in Texas? Read More »
Adam Kielich is a Fort Worth divorce attorney and managing attorney at The Kielich Law Firm in Bedford, Texas. This is an adaptation of an interview provided for a local journalism program researching the Tarrant County legal system. This research includes the affordability of legal counsel, the efficiency of the courts and overall fairness in the
Interview with Fort Worth Divorce Attorney Adam Kielich Read More »
Drafting divorce decrees and other legal documents is an art form. It requires understanding what the law requires. One must also know the balance between what may appear and what should appear. The answers may not be a black and white issue. There may be competing concerns and what is right is often a judgment
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QDROs–qualified domestic relations orders–are special court orders that divide certain types of employer-sponsored retirement plans as either part of the property division in a divorce, to pay child support, or to pay spousal support. Retirement plans that require a QDRO do so because a state or federal law requires this type of order to lawfully
What retirement plans can be divided by a QDRO in a Texas divorce? Read More »
Studies suggest the average household in Texas has roughly $7,000 in credit card debt. When adjusted to include only households with credit card debt that number increases to over $15,000. Debts owed by a married couple at the time of divorce may include significant credit card debt in addition to car loans, mortgages, 401k loans, personal
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Agreed divorces, often called uncontested divorces or no contest divorces, are divorces in which the parties have agreed to the major terms of the divorce. One of the major terms in many divorces is how to deal with the real estate owned between the spouses. In Texas approximately two-thirds of the population owns the home
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Retirement plan benefits, like 401k accounts and pension benefits, are often divided in a Texas divorce as part of the property division. Retirement benefits often represent one of the largest assets in the marriage (along with the house and cars). Their division may play an important role in fairly dividing the marital property between the
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Often divorces divide retirement plans like a 401k or defined benefit pension. A judge signs a QDRO (qualified domestic relations order) ordering the retirement plan administrator to divide the benefit. The ability to take funds from the plan under the QDRO depends upon the terms of the QDRO and plan rules. Some plans allow the alternate
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Dividing property in a Texas divorce can be a complication and expensive affair under the Texas Family Code. The Texas Family Code lays out a complicated framework of community property rules. Property may be community property of the marital estate, the separate property of one spouse, or separate property jointly owned by the spouses. The
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Dividing defined benefit pension benefits in a divorce strikes fear into the hearts and minds of divorce attorneys. Defined benefit pension plans, often simply called pensions, are far more complex than the relatively newer defined contribution plans like 401ks and ESOPs. Defined contribution plans are often easy to divide in a divorce. They maintain records of individual accounts
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For many people divorce is about the emotional issues and sorting out the children. There is a very important financial aspect to a divorce. The property division of a divorce is about more than fighting over who gets the house and cars. These are important property issues but they may not be the most important issues.
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In many divorces a major source of assets considered in the property division includes employer sponsored retirement plans and accounts like IRAs funded by prior retirement plans. These retirement plans can house significant financial resources. The parties to a Dallas or Fort Worth divorce may want to conserve them for retirement, may need to spend
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Divorce attorneys like myself help clients with divorces and post-divorce actions like enforcement, contempt and modification primarily in Texas. In such a large metropolitan area my clients range in family size, financial assets, post-divorce needs, property ownership and other issues related to their divorce. These divorces can range for very reasonable for clients, particularly with
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When I draft QDROs in a Texas divorce, one of the parties hires me to draft the QDRO after the judge signs the divorce decree. This is usually not the most efficient or productive method to deal with the QDRO. It is far better to start thinking about the QDRO early in the divorce. Many of
When to start thinking about a QDRO in your Texas divorce Read More »
Yes, Texas requires a divorce to dissolve a common law marriage; but the question is not as simple as you might think. Texas recognizes a common law marriage or an informal marriage as equal to a formal marriage. It requires a divorce (or annulment or death) to dissolve the marriage. The Texas Family Code has
Do I need a divorce for my common law marriage in Texas? Read More »
As a Texas divorce lawyer, I have written about dividing employer-sponsored retirement plans in a divorce through a qualified domestic relations order, or QDRO. These benefit plans are not the only retirement assets to divide in a Texas divorce. Individual Retirement Accounts, or IRAs, are also divisible in a divorce. A key misconception by many suffering through a
Dividing IRAs in a Dallas or Fort Worth Divorce Read More »
Many large and longstanding employers, like AT&T, General Motors, Hewlitt Packard and Bank of America, have defined benefit pension plans that offer retirement benefits more complicated in their benefit formula than a 401k plan where the participant receives the vested benefit on the distribution date. These defined benefit plans determine benefits out of a combination of service
AT&T Pension Benefits and QDROs in a Texas divorce Read More »
This is a fairly common question I receive at my Texas law office from potential divorcees who feel trapped by their spouse because the spouse is adamant about remaining in the marriage for one reason or the other. At fault divorces in Texas Once upon a time in Texas a divorce could only occur for very
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One issue dividing retirement accounts in a Texas divorce is whether the division is on shared interest or separate interest. This issue is technical and can be a confusing aspect of dividing retirement plans in a divorce. Often this issue arises when the parties are determining the final language of the divorce decree and the
Shared Interest vs. Separate Interest in a QDRO Read More »
There is no guarantee of alimony or spousal maintenance in a Texas divorce. Texas, like many states, changed its family relations laws (our Texas Family Code) in recent decades to curb the power of family court judges in Fort Worth, Dallas, Houston, Austin and around other part of Texas, to grant any type of spousal