Qualified Domestic Relations Orders
A Qualified Domestic Relations Order, or QDRO, is a court order that gives one spouse the right to receive all, or a portion of, the retirement plan benefits of the other spouse. If you are in the process of separating or are involved in divorce proceedings, and your marital estate contains retirement assets, a QDRO can be an essential legal document to have drafted by a qualified attorney. Entered correctly, a QDRO will allow a spouse to move retirement funds into their own retirement account, without penalties or taxes, until the funds are disbursed. Parties who attempt to transfer retirement assets without an appropriate court order may be subject to penalties by the IRS.
Schedule a consultation with us today to discuss options concerning Qualified Domestic Relations Orders and the transfer of retirement assets.