HOW ARE PENSIONS OR RETIREMENT ACCOUNTS DIVIDED?
Again, the presumption in Wisconsin is that all property, including retirement accounts, will be divided equally. For most 401(k)’s, pension plans, retirement accounts or IRA’s, a special order called a Qualified Domestic Relations Order (called a “QDRO”) is prepared which effectuates a division of those accounts. For some retirement accounts, such as military, state or county pension plans, QDRO’s do not apply and other special orders are required. If these type of retirement benefits exist, a lawyer or accountant is the most qualified person to address this type of issue.
