Qualified Domestic Relations Order (QDRO)
A qualified domestic relations order (QDRO) is a judgment, decree, or order included in a divorce judgment dealing with pension funds and/or an employee benefit plan. A QDRO or a similar legal order is used to split and change the ownership of retirement funds, making sure the employee’s divorcing spouse receives their fair share of assets.
Qualified domestic relations orders are complex legal documents, and an incomplete or incorrect one can put your future financial security at risk. Watt Law Firm has helped people with complex transactional needs like these, and we have the experience to help you draft an effective qualified domestic relations order.
I Just Got Divorced. Why Do I Need to Get a QDRO Right Now?
If you delay in obtaining a QDRO, EDRO or other appropriate order, you may lose valuable rights and run the risk of forfeiting the benefits awarded to you in your divorce. Get all of the necessary orders properly filed and in place as soon as possible. Delaying in moving forward may cost you all of your rights.
Types of Plans
Qualified domestic relations orders establish the non-employee’s legal right to receive payments, or a designated percentage of the pension or employee benefit plan’s account balance.
Watt Law Firm has experience with a broad range of plans, such as:
Private and Corporate Pension and Benefit Plans
457 retirement plans
Defined benefit monthly payment
Military, Federal, and State Government Plans
QCOs for military retired pay
QDROs for military and certain government retirement plans
TIDs for individual retirement accounts (IRAs)
COAPs and RBCOs for federal and state civil service plans
Teachers Insurance and Annuity Association/College Retirement Equity Fund (TIAA/CREF) accounts can be divided by a QDRO under the Employee Retirement Income Security Act (ERISA)
IRAs may be divided by qualifying court orders for military retired pay under the Uniformed Services Former Spouses Protection Act (USFSPA).
We also help clients with state and county retirement plans known as Eligible Domestic Relations Orders (EDROs).
Give us a call at 616-776-0000 to schedule a free consultation. Our office is located in Grand Rapids, Michigan.
Watt Law Firm, P.C.
2951 Thornhills Avenue SE
Grand Rapids MI 49546