Qualified Domestic Relations Orders
What is a Qualified Domestic Relations Order (QDRO)?
A Qualified Domestic Relations Order, also known as a QDRO, is a vehicle that transfers assets such as retirement benefits, IRAs, 401ks and pensions that were ordered in your dissolution judgement. These are separate orders that must be prepared and certified by the court and then sent on to the respective companies for distribution. Often, people who have gone through a divorce do not realize that this extra step must be taken in order to receive full financial remuneration of these assets. Many law firms do not offer this service; Attorney Jeffrey Hill and Paralegal Patricia Latham will be happy to assist in preparing the proper documents for these transfers.
How long does it typically take to complete the QDRO process and receive the court ordered financial benefits?
The length of time to complete this process varies from company to company. It depends on how fast the particular company can expedite the preapproval of the draft QDRO. Generally, the process can be completed in three to six months.
Is another court appearance required by the participant or alternate payee?
No, typically Suisman Shapiro handles the entire process and no one has to go back to court.