QDROCounsel will send you a form to collect basic information such as the date of marriage, name of employer, and plan name
QDROCounsel's platform generates a QDRO based on the information you provide
QDROCounsel will send your QDRO to the plan administrator for preapproval, if applicable
QDROCounsel is changing the paradigm for retirement benefits division in the United States. Our state-of-the-art technology will help you draft a custom tailored QDRO that is guaranteed to be accepted by your retirement plan. Our friendly support staff is based in the United States and can assist you throughout the QDRO process.
A QDRO is required to divide a retirement account.
Don’t lose out on your fair share of the retirement benefits that were created during your marriage. Any money contributed during the marriage by either the participant or the employer is considered community property. A QDRO is required to divide these assets between the divorcing couple.
Your rights are protected by federal law
A QDRO is required by federal law. A divorce judgment or decree cannot be used to divide a qualified retirement account. The plan administrator will accept any other document! Additionally, a QDRO can be used by either spouse to access funds from a defined contribution plan (e.g. 401(k), 403(b), 457(b)) without a tax penalty. This means that you can withdrawal your money early and save between 10% to 25% on the tax bill.
QDROs go into effect when a court filed QDRO is submitted to the plan administrator and they complete their administrative tasks.
A QDRO is filed under the same jurisdiction (Court house) your divorce was filed in.
There is no rule as to who should initiate a QDRO; either party can initiate the QDRO process.
There is no obligation for either of the parties to pay for the QDRO; it is common practice to split the cost between both parties.
A QDRO is a document qualified by the court instructing a pension plan administrator on how to divide a plan. Without a QDRO, the plan administrator will not distribute funds.
A QDRO is a court order that divides a retirement account when there is a divorce either by a percentage or a monetary figure award.