QDRO Process Explained
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Do you have questions about the QDRO process? Get the QDRO process explained in the following educational video, then give our attorneys a call to set up a free review.
Question:
What is important to know about the QDRO Process?
Answer:
Typically, you should submit a QDRO with your judgment of divorce. Some judges are requiring that now; they didn’t use to. You can submit a QDRO later. However, you don’t want to run into the problem where you forget to submit it, and all of a sudden 5, 10, 15, 20 or more years go by. If something happens to your ex-spouse, and you haven’t submitted a QDRO, you’re not going to get the funds. You want to make sure that you do it as soon as possible, preferably when the judgment of divorce is forwarded to the judge.
When couples divorce, the assets they’ve reserved for retirement can be divided proportionally without tax liability under ERISA, the federal statute that regulates retirement benefits. Whether your retirement plan is a defined contribution or a defined benefit plan, you will need a qualified domestic relations order (QDRO) signed by a judge and accepted by the plan to effect a division of the marital portion of the fund. The divorce attorneys at Mahserjian & Mahserjian-Ortiz, PLLC have vast experience obtaining QDROs and interfacing with plan administrators to secure a division of the funds.
Are you wondering “What is important to know about the QDRO Process?”. Contact our experienced Saratoga Qualified Domestic Relations Orders (QDRO) Lawyers today for a consultation and case evaluation.
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Client Reviews
“The staff is extremely friendly and knowledgeable. They truly care about their clients and walk you through the process every step of the way. I highly recommend Jean and her team for any legal needs.”
– Joseph Bona