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(Qualified Domestic Relations Orders)
Pronounced “Quadro,” a QDRO, short for Qualified Domestic Relations Order, is an order transferring assets in a divorce. This is most useful in the division of retirement accounts, where the account can be divided without a payout and the associated taxes. By using a QDRO, the recipient can place assets into a retirement account such as an IRA (individual retirement account) by way of a roll-over. This is done in accordance with IRS Publication 575, and the IRS website clearly states:
An individual may be able to roll over tax-free all or part of a distribution from a qualified retirement plan that he or she received under a QDRO. If a person receiving QDRO payments is either the employee's spouse or former spouse (not as a nonspousal beneficiary), then he or she can roll it over, just as if he or she were the employee receiving a plan distribution and choosing to roll it over.
This allows for easy transfer of assets in a divorce without taxes or penalties or a reduction in the amount received. Our firm handles QDROs and the division of retirement on a regular basis.
To schedule a free phone or in-office consultation with one of our attorneys about dividing retirement using a QDRO, call 770-863-8355.
Our typical fee per QDRO is $750.00 for the attorneys’ fee, plus any applicable filing fees. This includes all work from the preparing of documents to getting the judge to sign off on the final paperwork.
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