If you are facing a divorce or if you are recently widowed, you may find the following financial decision making resources helpful. When I was divorcing over 12 years ago, the judge ordered a qualified domestic relations order (QDRO) written and submitted to my ex’s workplace so I was guaranteed a portion of his pension when he retires. The QDRO also required I hire an expert to figure out the value of the account at the time of the divorce. The judge ordered my ex and I to split the cost of these extras.
Learn more about QDROs and other important issues from the resources below from the Women’s Institute for a Secure Retirement (WISER).
“Both divorce and widowhood can be extremely emotional and oftentimes unexpected events in a woman’s life. The difficulties are often further compounded by the practical issues that arise during these transitional periods. WISER has developed various resources to help make this time a bit less stressful and to help newly divorced or widowed women make smart and informed financial decisions.
Because pension and retirement benefits are not automatically split in a divorce, this short, common-sense guide emphasizes the importance of these benefits and offers valuable information on marital property, negotiating an agreement, and getting a qualified domestic relations order (QDRO).
WISER and SAGE’s National Resource Center on LGBT Aging developed a series of resources for managing your finances through marriage, divorce and widowhood:
WISER, in conjunction with the Heinz Family Philanthropies, released What Women Need to Know About Retirement, a free e-book available for PDF download. Download Chapter 7, which looks at issues such as divorce and widowhood: When the Unthinkable Happens. (published 2007)
Further information on Social Security benefits for Widows:
Contact the Social Security Administration or call them at 800-772-1213 to ask if you are eligible for:
- survivor benefits
- surviving child benefits
- lump sum death payment
- black lung benefit, and/or
- Medicare benefits
For more resources on Divorce and Widowhood, click here.”