Can you get a prenup with an ERISA Plan? The short answer is NO! Federal law does not allow a prenuptial agreement to waive survivor benefits with ERISA plans. Federal Regulations [CFR Regulation 1.401(a)-20 Q&A 28] state as follows: Q-28: Does consent contained in an antenuptial agreement or similar contract entered into prior to marriage […]
I have several retirement accounts. Can I prepare 1 QDRO for all the accounts? You have to draft a separate QDRO for each retirement account tailored to the requirements for that plan. Why is this? Each plan is governed by different rules depending on the plan type (i.e. 401(k), Pension Plan, 403(b)). If the retirement […]
Can I prepare my own QDRO? Of course you can prepare your own QDRO but it may be overwhelming to figure it out! Each QDRO must be approved by its respective retirement plan. What we have seen based on 3 plus decades of experience is that there are laws to protect retirement division but very […]
Why do I need a QDRO? When you get a divorce, the only way to get money paid from one spouse’s retirement account to the other spouse is with a QDRO. A QDRO (sounds like ‘Quad-ro’) is a court order required to divide retirement accounts. A QDRO allows for payment to the other spouse for […]
I purchased Judgment Language, what comes next? The short answer to this question is you should not wait for retirement to file a QDRO! If you delay filing a QDRO, and wait until your ex-spouse retires or you need the money, you may lose valuable rights or even lose some benefits that you are entitled […]
