We have mutually agreed to waive the rights to each others retirement funds, then split all others assets 50/50. Can we do this in the separation agreement? If so, when the divorce is finalized what do I need to submit to the retirement vendors?
Yes, you can do this. You simply need to state in the separation agreement that you are each waiving, relinquishing, and releasing all interest, right, and claim to the retirement assets of the other and that each spouse’s retirement accounts titled in his/her individual name shall be and become the sole and separate property of that spouse.
There is nothing you need to submit to the retirement plans in regards to this. Once divorced, you may need to submit a divorce judgment in order to change the beneficiary.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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