How is a Qualified Domestic Relations Order Used to Allocate Retirement Assets During a Divorce

Do you or your spouse have a retirement plan or a pension plan that needs to be divided pursuant to a divorce? If so, you need to get what’s called a Qualified Domestic Relations Order, commonly called a QDRO. These are separate orders that are drafted so that the plan administrator of the retirement benefits divides the assets appropriately.
You can’t just write up your agreement and say we’re going to divide our retirement benefits 50/50; that not how it works. There needs to be a separate, highly technical document drafted to go to the plan administrator to make sure that you’re entitled and that you get your half of those benefits. Otherwise, you risk not getting what should rightfully be allocated to you.
Remember, not all lawyers can or do these QDROs. However, our law firm does. One of the key things to remember is that these should and need to be done at the same time as your divorce. If you have retirement benefits, make sure that you talk to a lawyer who knows how to draft a really good QDRO.
For compassionate, knowledgeable legal representation in Albuquerque, New Mexico, call our office today.