Qualified Domestic Relations Order (QDRO)

 Posted on May 15, 2017 in Divorce

The division of property in a Dallas divorce is never easy, but one of the most complicated type of assets to divide is a person's retirement savings plan, such as a 401(k)s and IRA. Despite the fact that a retirement plan exists based on the sole efforts of one party, in a Dallas divorce, community property laws dictate that it be divided equitably. Before your employer's pension plan administrator will divide your retirement accounts between you and your spouse, however, they will require a qualified domestic relations order, or what is more commonly known as a QDRO.

What is a QDRO?

A QDRO is a court order that mandates the separation and title transfer of a retirement plan between you and your spouse. At the Clark Law Group, we assist individuals with property division during a divorce, and guide them through the more difficult aspects of the process, such as the transfer of retirement assets. If you are going through a divorce in the Dallas, TX area, and if you are concerned about protecting your rights to your spouse's retirement plan, it is important that you obtain a QDRO. Contacting the plan administrator and obtaining a QDRO can help to stop your spouse from cashing in on his or her retirement plan before paying you your deserved share.

Type of QDROs

Because there are so many different types of retirement plans (IRAs, Military pension, 401(k)s, etc.), it stands to reason that there would be more than one type of qualified domestic relations order. With some QDROs, you may simply be required to fill out a standard QDRO form; for others, you may be required to draft a personalized QDRO for the employer. In order to understand what type of QDRO you will need, you need to first understand the specific requirements sent forth by your spouse's retirement plan.

In general, there are four types of retirement plans, each with differing requirements:

• Corporate Plans;
• Teacher Plans;
• Military Plans; and
• Local, State, and Federal Government Plans.

Consult a Dallas, TX QDRO Attorney

At the Clark Law Group, our QDRO lawyers fight to protect your rights to marital property in a Dallas divorce. If you are concerned that your spouse is going to cash in on his or her pension prior to the judge handing down a final decree, or if you simply want to take proactive measures, our Dallas divorce lawyers understand what steps need to be taken to protect your rights. To consult with a QDRO attorney today regarding the division of retirement benefits, reach out to our Dallas law firm at 469-906-2266 or go online to schedule a private consultation today.