A Qualified Domestic Relations Order (QDRO) is a special court order that formally divides retirement accounts, pensions, 401(k) accounts, and/or I.R.A. accounts. A QDRO is usually necessary after a Divorce Decree is entered that awards a portion of one parties’ retirement, etc. account(s) to the other party.
Once signed by the Judge, the QDRO is given to the plan administrator of the retirement program and usually, based upon the QDRO, a new separate retirement account is established for the non-employee spouse and the benefits will be paid pursuant to the terms of the retirement program.
Preparation of a QDRO can be time-consuming and complicated. The content requirements of a QDRO will vary from retirement program to retirement program. Usually, the QDRO must be specifically drafted to include certain language and requirements provided by the retirement program, then submitted to the company for approval before obtaining necessary signatures from the parties and the Court.
Elmore Law can assist you in preparing your QDRO for a minimum flat rate of $750.00-$1000.00, depending on the complexity of the Order. Discounts may be given to those needing multiple QDROs or using other services in the office.
This service includes:
- Intake appointment with a member of our staff;
- All communications with the company, court and your former spouse;
- Obtaining all necessary signatures from you and your former spouse;
- Submitting the QDRO to the company and court for approval;
- Submission of the final executed QDRO to the company.