Ensure that your retirement accounts are properly divided
As part of the divorce process, you may need a Qualified Domestic Relations Order (QDRO) prepared to divide a retirement account. A QDRO is required for a divorce when pension funds or qualified retirement accounts are involved. This order establishes your future ex-spouse’s legal right to receive a designated percentage of your qualified plan account balance or benefit payments.
For non-qualified retirement accounts, such as an IRA, a QDRO is not usually required. Instead, a copy of your marital settlement agreement will suffice to transfer the funds. There are special exceptions for qualified retirement accounts when money is being transferred pursuant to a divorce. Ask us about your available options when discussing your retirement accounts.
We partner with professionals to deliver QDROs
While we do not draft QDROs in-house, we have established relationships with high-quality professionals that specialize in drafting QDROs. We will make the introductions and stay on top of the process to ensure it is completed in a timely manner and not a forgotten detail.
Related Articles
Holidays: What they Bring
By Ahsha Mootz The holiday season is typically filled with love, joy, and happiness. However, for couples going through divorce, it can be draining and not enjoyable. Here at West Coast Family Mediation, we strive to ensure that couples remain … Read More
Benefits of Working with a Divorce Mediator Who Is a Licensed Attorney
It isn’t well known, but to be a mediator, you do not actually have to be a licensed attorney. In fact, you don’t have to have any license at all to be a mediator. Now there are certainly some wonderful … Read More