Lawyers and QDRO Specialists Handling QDROs For 401(k) Plans

Make Sure Your Client Gets The Best Deal When Dividing A 401(k)

401(k)s are the most common retirement fund these days. Which is a good thing if you have to submit a QDRO to divide one between spouses. However, each plan administrator has its own requirements for creating a QDRO. You also need to ensure that the language in the QDRO is best for your client, not the plan administrator.

As a busy lawyer, you probably do not have the time to consider all of these things. However, they will ultimately affect your client, if you get them wrong. That can lead to a lot of problems, including potential lawsuits.

Instead of risking a mistake with your client's retirement funds, work with the attorneys and QDRO specialists at QDRO Preparations, LLC, to make sure the QDRO is drafted correctly and to your client's advantage, instead of to the advantage of the plan administrators. Our team is trained in the many nuances and pitfalls of QDROs. We know how to draft a document that will be accepted by the plan administrator while protecting your client and you.

Considerations For Division Of A 401(k)

When a 401(k) is divided, there are many things that need to be taken into consideration, including:

  • How is the alternate payee compensated — by percentage, dollar amount or other calculation?
  • Does the plan provider allow for division upon approval of the QDRO?
  • If so, how can the alternate payee collect?
  • What is the tax burden to each party?
  • What happens if the participant takes money from the 401(k) before retirement?
  • What happens if the participant takes a loan against the account?
  • What happens if either party dies?

We consider all of these things, as well as your client's particular situation as we draft his or her QDRO. We incorporate language that protects your client's interests and ensures that everything is clearly laid out to prevent problems further down the road.

You will receive all of the information you need to submit to the courts prior to the submission of the settlement agreement or hearing. This allows you to incorporate all of the details into the final divorce decree so there are no misunderstandings in the future.

We Make Sure You And Your Client Are Protected

Do not risk a mishap. Call us at 205-704-2701 or contact us online to talk with us about your clients' needs.