Dividing Retirement Pensions and Accounts in a Divorce
A qualified domestic relations order, or QDRO, is needed to divide retirement pensions and accounts such a 401k or a union or government pension in a divorce. A well written QDRO is essential to benefit divorcing parties.
The QDRO Law Center, P.C. in Skokie, Illinois prepares QDROs and similar orders used to divide other retirement accounts and pensions, such as Thrift Savings Plans (TSPs) and military retirement accounts in a divorce. Veronica Silva , the QDRO Law Center’s founding attorney, has more than 10 years of experience working with former spouses, attorneys and plan administrators.
Orders that divide retirement accounts are not mechanical. If the nuances of retirement account division are not address properly, mistakes and omissions can be financially detrimental to the husband, or the wife, or both.
Working with lawyers, husbands and wives in a divorce
The QDRO law center works with family lawyers and people who are divorcing or have divorced and were ordered to divide their retirement benefits.
- For lawyers: The QDRO law center can prepare QDROs and related orders for the division of retirement accounts. Also, the QDRO law center can consult with lawyers preparing for settlement and trial such that settlement agreements and judgments contain desired terms.
- For husbands and wives: While family law attorneys may do a fine job of protecting their clients’ interests in court, the best divorce lawyers do not prepare QDROs for their clients. Instead, they refer their clients to a QDRO attorney. If you are going, or have gone, through a divorce and need to split a retirement account such as a 401k or pension, the QDRO Law Center can prepare the orders and documents you need to help you move on with your life.