Qualified Domestic Relations Orders (QDRO)
A retirement account may be one of the most valuable marital assets in a divorce proceeding. A qualified domestic relations order (QDRO) is an order prepared for a judge’s signature, and then given to the Plan Administrator for the 401(k) or other retirement account. Do not risk losing your rights or a portion of your funds by using a form QDRO.
You need an experienced attorney to assure that all of the necessary information gets to the Plan Administrator. Contact Pearson & Paris, P.C., to set up an initial consultation regarding how to protect your assets during a divorce.
QDRO Guidance In Colorado
A valid QDRO requires that certain information be included. If critical information is left out, the order could fail at a later date. Furthermore, a valid QDRO should not include certain types of information or orders beyond the Plan Administrator’s ability to comply. Also, different retirement plans have different rules and requirements that must be met to enforce the QDRO.
Other actions may affect your ability to obtain the funds to which you are entitled. Your spouse may lose a job or change jobs. Your spouse may borrow against the retirement funds. A valid, enforceable QDRO is critical to protecting and receiving your property. All of these factors make it critical to consult with an experienced family attorney as soon as possible when obtaining a divorce.
Contact Our Lakewood QDRO Lawyers
Our attorneys will make sure that a proper QDRO is provided to the Plan Administrator in a timely fashion. Contact us for the guidance you need.