Qualified Domestic Relations Orders And Dividing Retirement Assets In A Divorce
What Is A QDRO And How Does It Help With Retirement Post-Divorce?
A qualified domestic relations order (QDRO) is an important document ultimately signed by the court ensuring that a spouse (or ex-spouse) receives a portion of retirement benefits of the other spouse (or ex-spouse) pursuant to the division of assets agreement in a divorce.
Often, both spouses in a divorce proceeding will be in need of a qualified domestic relations order. This court order is eventually sent to a bank or institution where the retirement accounts are located.
Christopher Rade Musulin, Esquire, experienced family and matrimonial law attorney and founder of Musulin Law Firm, LLC, represents clients in South Jersey counties and throughout the nation in all matters under the realm of matrimonial and family law.
With more than 30 years of legal experience, attorney Musulin continues to study the law and all the current changes to the legal landscape. His thorough understanding and personalized approach to legal representation, along with his legal team, provide a significant benefit to the firm’s clients, as he provides sound legal guidance.
The Importance Of Paying Attention To Detail
Attorney Musulin emphasizes that a lot is at stake since the QDRO process oftentimes involves the largest assets of a divorce action. If the QDRO process is mishandled, problems arise that may cost a litigant thousands of dollars. There is the potential for great error such as, but not limited to, the wrong amount of money distributed to the other spouse, one spouse never seeing his or her share of this division, or unwarranted tax consequences.
Additionally, mistakes are costly to fix, and some mistakes might not be able to be remedied later. There are also serious consequences that can occur by the failure to meet certain time deadlines.
Helping You Support Your Retirement Dreams
The Musulin Law Firm, LLC, utilizes qualified, experts and professionals to ensure that the QDRO is prepared correctly for presentation to the court. The law firm works with each client to determine whether or not a QDRO is needed, and provides extremely competent management and oversight of the QDRO process to ensure everything proceeds smoothly and effectively. The law firm will make sure that the qualified domestic relations order is in congruence with the terms of your final divorce settlement and that you are in compliance with the court order.