{"id":309,"date":"2017-09-29T20:17:51","date_gmt":"2017-09-29T20:17:51","guid":{"rendered":"https:\/\/eralawgroup.wordpress.com\/?p=309"},"modified":"2018-09-28T06:22:27","modified_gmt":"2018-09-28T06:22:27","slug":"familyfriday-qualified-domestic-relations-order-qdro","status":"publish","type":"post","link":"https:\/\/eralawgroup.com\/familyfriday-qualified-domestic-relations-order-qdro\/","title":{"rendered":"#FamilyFriday: Qualified Domestic Relations Order (QDRO)"},"content":{"rendered":"

You\u2019ve gotten divorce<\/a> and have been awarded a percentage of your spouse\u2019s retirement account, you\u2019re good for now, right?\u00a0 Wrong.\u00a0 Often couples come to us years after their divorce to finally collect on their marital award.\u00a0 They want to file their Qualified Domestic Relations Order (QDRO) and collect but they\u2019re realizing it may be easier said than done.\u00a0 Now what?\u00a0 On this week\u2019s #FamilyFriday article, the attorneys of ERA Law Group, LLC discuss QDROs.<\/p>\n

A Qualified Domestic Relations Order (QDRO) is the means by which a retirement asset is transferred from one spouse to another in accordance with a Judgment of Absolute Divorce.\u00a0 Most retirement assets have their own QDRO formats that need to be followed with the appropriate language and awards per the Judgement of Absolute Divorce<\/a>.\u00a0 The spouse receiving the income is referred to as the \u201calternate payee\u201d and often are filing the QDRO in order to provide support payments or to divide retirement assets at the time of the divorce.\u00a0 In most cases the assets received by the alternate payee are rolled over into another retirement account (thereby avoiding a tax penalty).\u00a0 The alternate payee always has the option of receiving a lump sum, however, this will trigger various tax penalties.<\/p>\n

Individuals often don\u2019t think about obtaining and filing their QDRO until it\u2019s time to collect and sometimes that\u2019s years down the road.\u00a0 What many individuals don\u2019t know is that a QDRO can be filed in order to assign any future or current retirement benefits.\u00a0 Therefore, it doesn\u2019t matter if your ex-spouse isn\u2019t set to retire for an additional 30 years.\u00a0 You can go ahead and file that QDRO today.<\/p>\n

The timing of preparing, filing, and the entry of a QDRO are important and various factors and consequences should be considered.\u00a0 Additionally, the language and options of receiving the benefits of your portion of your ex-spouses retirement assets are also important when drafting a QDRO.\u00a0 If you\u2019ve been awarded a percentage of your spouse\u2019s retirement asset, call the attorneys<\/a> at ERA Law Group, LLC at (410) 919-1790 today and ask about their fixed fee services!<\/p>\n","protected":false},"excerpt":{"rendered":"

Often couples come to us years after their divorce to finally collect on their marital award.\u00a0 They want to file their Qualified Domestic Relations Order (QDRO) and collect but they\u2019re realizing it may be easier said than done.\u00a0 Now what?\u00a0 On this week\u2019s #FamilyFriday article, the attorneys of ERA Law Group, LLC discuss QDROs.<\/p>\n","protected":false},"author":2,"featured_media":312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[426,412,413,416],"tags":[43,196,8,44,11,12,103,217,46,96,218,201,219,47,220,48,204,165],"class_list":{"0":"post-309","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-divorce-and-separation","8":"category-estate-planning","9":"category-family-law","10":"category-medicaid-and-asset-preservation","11":"tag-401k","12":"tag-annapolis","13":"tag-asset","14":"tag-attorney","15":"tag-divorce","16":"tag-family-law","17":"tag-finances","18":"tag-fixed-fee","19":"tag-ira","20":"tag-lawyer","21":"tag-legal-services","22":"tag-maryland","23":"tag-pension","24":"tag-qdro","25":"tag-qualified-domestic-relations-order","26":"tag-retirement","27":"tag-retirement-account","28":"tag-retirement-pay","29":"entry"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/posts\/309"}],"collection":[{"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/comments?post=309"}],"version-history":[{"count":3,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/posts\/309\/revisions"}],"predecessor-version":[{"id":910,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/posts\/309\/revisions\/910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/media\/312"}],"wp:attachment":[{"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/media?parent=309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/categories?post=309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eralawgroup.com\/wp-json\/wp\/v2\/tags?post=309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}