Thanks for providing this invaluable resource. My husband and I separated amicably a year ago-- we together shared 1 lawyer to draft up a separation agreement and signed it in Jan 2009. It is now time to follow through with the divorce. He has refinanced the home into his name, and we no longer share any debt. The only joint property is the split of his 401K. We agreed in the agreement to split it 70/30 in my favor-- I will take a cash distribution of a portion of it, and we each remain commited to this.
What are the next steps? If there is any way possible, we would like avoid spending more money on lawyers as we are in total agreement. I cannot get a clear feel of what we do next, but can roughly guess at the following:
Deal with the QDRO - he has to give me a QDRO from his plan that details the amt to split; i take this and file a coversheet, civil summons, and complaint for division of retirement benefits with the clerk in my county
submit claim for absolute divorce that has a claim for equitable distribution that recognizes the QDRO? is the QDRO included here? Or is it all about having all your paperwork together for a divorce date with a court?
What is the inherent timing in this? I will want to take out about 2/3 of the 401K into cash and the remaining into an IRA-- I have to only pay income tax, yes? When does this distribution happen-- on hold until after the actual divorce?
What happens if none of these things get done before the end of the year and we are still married? We very much each want to file single next year.
Thanks for responding to my salvo of questions.