Carpool Chats with Deana Brown: What is QDRO?
What is QDRO? It stands for Qualified Domestic Relations Order it is a legal document that outlines the division of retirement assets between divorcing spouses. It is typically used in cases where one or both spouses have a retirement plan, such as a 401(k) or pension plan. The purpose of a QDRO is to ensure that the non-employee spouse receives their fair share of the retirement benefits.
In most cases, the QDRO is not prepared by the divorce attorneys themselves. Instead, they may engage the services of a QDRO specialist or another attorney who specializes in drafting these orders. QDROs can be complex and time-consuming, requiring retirement plan regulations and family law expertise.