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New York Consolidated Laws, Domestic Relations Law DOM Form

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New York Consolidated Laws, Domestic Relations Law DOM Form

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in many divorces the party's retirement plan may be the biggest asset of the marriage to the extent that it was earned during marriage it may be marital property subject to division between the parties the New York qualified Domestic Relations order qdro is an essential legal document in divorce cases ensuring Fair distribution of retirement assets a qualified Domestic Relations order qdro is a court approved document that outlines how retirement benefits will be divided between divorcing spouses it is applicable to various retirement plans including pensions 401ks and other qualified plans governed by the employee retirement income Security Act erisa the qdro establishes the legal right of a former spouse to receive a portion of the retirement benefits earned during the marriage without a qdro the non-employee spouse may be unable to access their share of the retirement assets leading to significant financial losses to obtain a qdro in New York the divorcing parties must follo

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