What is a QDRO and when is it used?

By Arin Fife
May 16, 2017
What is a QDRO and when is it used?

If you're dividing a retirement account that is qualified, such as a 401(k) or a pension, your attorney will need to prepare a QDRO, which is a qualified domestic relations order. This is an order that will be entered with the courts that is then sent to the planned administer of the retirement account to effectuate the division. Non-qualified plans such as IRAs can usually be divided with a simple letter of direction and don’t require a QDRO.

Arin Fife is a family lawyer at Boyle Feinberg, P.C. in Illinois. To learn more about the firm, visit www.bffamlaw.com. Visit their firm profile here.

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May 16, 2017
Categories:  FAQs

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