The recently announced divorce between two powerful people in the world of real estate illustrates important points to Tampa residents may also have considerable wealth tied up in commercial or investment properties.
The abbreviation QDRO stands for qualified domestic relations order. Many Floridians who live in the Tampa area and other parts of the state will need to be familiar with this term, particularly if they are going through a divorce or legal separation. This is because many of this state's retirees or soon-to-be retirees have a lot of wealth tied up in pension, 401(k)s or other retirement plans.
As readers of this Florida-based family law blog know, marriage is an important decision because it has legal significance. When a person gets married, they lose their status as a single person, and for many purposes their identity is tied to that of their spouse. Married people often share property, wealth and decision-making power with their partners.