Anestis Karasaridis v. Voula Constantarakos
Docket No. A-1642-22
Decided August 29, 2024
Submitted by New Jersey Divorce Lawyer, Jeffrey Hark.
In a recent unpublished decision the Appellate Division of New Jersey reversed the entry of an order dividing retirement accounts due to its failure to allow the parties to retain their own expert and cross examine the Court’s appointed expert.
In Karasaridis v. Constantarakos, the parties married on July 3, 1999. Their final judgment of divorce (FJOD) was entered on May 12, 2021. They do not share any children. The parties entered into a marital settlement agreement (MSA) which was incorporated into their FJOD. The terms of the MSA include language dividing each individual account equally for the marital coverture portions of those accounts to be divided by way of a Qualified Domestic Relations Order (QDRO).
Following the divorce, the parties began the process of drafting QDROs pursuant to the MSA. The parties could not agree on how plaintiff’s pension should be divided. Consequently, plaintiff refused to execute any of the QDROs. Defendant then moved to enforce the equitable distribution of plaintiff’s retirement account as a separate interest under the MSA. Plaintiff cross-moved to divide his pension as a shared interest, and for counsel fees.
The court issued an order the same day appointing Rodney Troyan, Esq. as an expert to advise the court whether: plaintiff’s plan is a defined benefit plan, a cash balance pension, or a hybrid of the two; plaintiff’s pension should be divided via a shared or separate interest; MSA paragraphs 6.3 (D) and (E) guide the parties intentions as to how to divide plaintiff’s plan; and the benefits and detriments to each party if the plan is divided as a separate interest versus a shared interest. The order included a statement that the court would “issue a decision on the parties’ pending motions.”
On November 2, the court, without a hearing, issued an order and statement of reasons directing plaintiff’s plan be divided by way of a separate interest QDRO. The court found Troyan’s report “consistent with both statutory and case law, as well as the underlying MSA and plan documents.” The court adopted Troyan’s report “in its entirety.”
Plaintiff appealed and the Appellate Division reversed the decision finding that the Order was made despite Plaintiff disputing the opinion, requesting an expert of their own, and did not have the ability to cross examine the Court’s appointed expert – all of which are required by the Court Rules.
Division of retirement accounts and QDROs can be a complicated area of divorce law in New Jersey. As seen with this case, the Court had to appoint its own expert to decipher what to do with one of Plaintiff’s retirement accounts. If you or your spouse have retirement accounts and are getting or contemplating divorce, or if you have questions about Qualified Domestic Relations Orders (QDRO), retirement assets, divorce, enforcement, child support, alimony, changes in circumstance requiring a modification, parenting time, and custody, or appeals, contact the experienced matrimonial divorce attorneys at Hark & Hark today.
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