QUALIFIED DOMESTIC RELATIONS ORDERS
(QDRO's)
A QDRO/DRO is a special court order that is often required to divide retirement accounts, pensions, 401(k) accounts, and/or I.R.A. accounts, as per the Divorce Decree. Often times, a Divorce Decree will order one spouse to prepare a QDRO (or pay to have a QDRO prepared).
QDRO's are often unique to each individual company and/or retirement program and can vary greatly from one program to another. Your QDRO/DRO must be specifically drafted to include certain legal language, as well as company-specific retirement program language. Once a QDRO/DRO is drafted, it is signed by one or both parties, submitted to the Court for approval, and then finally submitted to the Plan Administrator of the program to approve and effectuate the division.
The cost for drafting, filing and tracking a QDRO ranges from $500.00 to $1,000.00, depending on complexity and individual Retirement Plan requirements.
This Service typically includes:
-
An initial consultation or telephone consultation;
-
Representation by an experienced attorney;
-
All correspondence and communication between parties, the court, and the retirement company;
-
Filing of the QDRO/DRO with the Court for signature; and,
-
Final submission of the finalized QDRO/DRO to the company.
-
To begin the QDRO process, please call our office to schedule an appointment.