QDRO – Qualified Domestic Relations Order
QDRO
A Qualified Domestic Relations Order (“QDRO”) or Domestic Relations Order (“DRO”) are special court orders which are required for the division of certain types of retirement accounts or pension plans.
In a divorce, retirement accounts and pension plans can be divided generally without any tax consequence to either party, as long as the appropriate court order enters. With retirement plans such as a 401(k), or a pension plan with a private company, a QDRO is necessary for the transfer of any interest in those plans from one spouse to the other. State and governmental retirement and pension plans also require a court order for division, and in this case the order is called a Domestic Relations Order or DRO.
How We Help
Levitt Family Law & Mediation is a family law firm that when acting as settlement counsel or Collaborative Law attorney, works with clients with regard to the division of retirement assets, but does not draft either QDROs or DROs. However, we work closely with attorneys and pension professionals who have this expertise to draft the QDRO or DRO for our client as it is more cost effective. We then obtain the necessary Court approval of the QDRO or DRO. We also represent clients where there are disputes regarding the division of retirement accounts or pension plans or the language of a QDRO or DRO.
At Levitt Family Law & Mediation, we can be the mediator, providing mediation services to assist you with resolving family law matters including divorce where the division of retirement assets may be involved. In this role we are not representing you as an attorney, but as a neutral party to assist in achieving an agreed upon resolution. We can facilitate the resolution of any issues related to the division of retirement assets and the implementation of a QDRO or DRO, and can also refer you to the appropriate professionals to have a QDRO or DRO drafted and approved by the Court.
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