What is a QDRO?
A Qualified Domestic Relations Order (QDRO) is a legal document that is required to split an ERISA qualified plan as part of a divorce settlement. Qualified plans include: 401(k), 403(b), 457, pension, profit sharing plans, etc. Every plan has its own requirements. Depending on the plan, the document may not even be called a QDRO but they are generically referred to that way. It’s important that when you have one prepared, it is sent to the plan for pre-approval to ensure that it meets all of the requirements. Do this before you send it to the judge or you risk having it rejected by the plan and having to start over with more expense.
We facilitate QDRO preparation in conjunction with your attorney. The flat fee for this service is $350. Submit the forms below to begin the process.
Common QDRO-Related Mistakes to Avoid
The two most common mistakes that I see time and again are:
- Not having the document drafted prior to the final court appearance
- Not filing the document with the plan administrator right away after it’s approved by the court
These mistakes are simple enough to avoid. As soon as you know you will need one, get one drafted. Once the document is approved by the court, file it with the plan administrator. The follow through on this is really important.