Qualified Domestic Relations Order Attorney in Georgetown, Texas Secures Property for Spouses
Handling property divisions for more than 30 years
Kevin Henderson Attorney at Law provides excellent legal services for families in and around Williamson County, Texas. My experienced staff and I guide your through the qualified domestic relations order (QDRO) process and deliver dependable results to secure retirement benefits. My goal is to get the best possible outcome for you promptly and professionally.
What is a QDRO?
A qualified domestic relations order is an order that needs to be included in a divorce agreement or final decree to establish a right to receive direct payment of retirement benefits from a retirement plan. The QDRO establishes your ex-spouse’s or your soon-to-be-ex-spouse’s legal right to receive a designated percentage of your qualified retirement plan account balance or benefit payments.
Why do I need a QDRO?
Without a QDRO, the plan administrator may not be aware of a divorce or a former spouse’s right to any of the plan benefits. The plan might pay all benefits to the individual participating in the plan, not the former spouse, even if there is a marital settlement agreement or judgment of dissolution.
If the individual participating in the plan dies after the divorce without a QDRO, it is possible that the former spouse will receive no money from the plan. The qualified domestic relations order can also prevent future lawsuits.
How can I get a QDRO?
Even within a specific jurisdiction, there are no set processes for acquiring a QDRO. The terms and conditions of the QDRO must be set forth in the marital settlement or divorce decree. At a minimum, the order should set forth:
- The amount or percentage of the benefit to be assigned from the individual participating in the plan
- The identity of the plan from which the benefits are to be allotted
- Whether the alternate payee is to be named as surviving spouse for purposes of a joint and survivor’s annuity, if applicable
- When the benefits are to be divided
- Whether any post-retirement subsidies are to be included
Many variables affect what constitutes a valid QDRO in various situations. That is why it is extremely important to seek the help of an experienced family attorney in Georgetown, TX for assistance to ensure your future right to receive retirement benefits.
What is an alternate payee?
An alternate payee is someone who receives retirement benefits, but who was not originally named in the plan as the participant. The alternate payee is usually the ex-spouse of the retirement plan participant. An alternate payee can also be a plan participant’s spouse, former spouse, child or other dependent.
In general, the alternate payee receives all or a portion of the plan participant’s benefits under a retirement plan. Specific court documents, such as a qualified domestic relations order, may be required to ensure the alternate payee’s rights, so seek the advice of a board-certified family law attorney to review your situation.
Contact a knowledgeable Georgetown, TX for a consultation
My staff and I at Kevin Henderson Attorney at Law have extensive experience developing qualified domestic relations orders to fit various plan administrators’ requirements. Offering consultations to discuss your case, I am board certified and offer reliable legal representation. Call me at 512.887.1996 to make an appointment, or contact my office online.