We Understand Qualified Domestic Relations Orders
If you and your spouse are divorcing, you may already be expecting to split assets, but how are retirement savings accounts divided? The division of these accounts can be complicated and require a qualified domestic relations order (QDRO) form to deal with these assets.
Attorney Lisa Meier with Meier Schack, LLC, has a reputation for her knowledge and proficient implementation and preparation of QDROs. Our attorneys have over 30 years of combined experience serving clients throughout Minneapolis and the surrounding areas. We know the impact every aspect of divorce can have on your life. We create efficient and effective strategies for your case.
The Benefits Of QDROs
In QDROs, the spouse who earned the benefit is referred to as the participant, while the former spouse, child or another dependent is called the alternate payee. Under a QDRO, the court may require a participant to assign a portion or all of their retirement benefits to the alternate payee.
While these court-ordered judgments can be complex, they have many benefits, including:
- Allowing a former spouse to receive benefits after the participant’s death
- Enabling the participant to avoid the penalty for early withdrawal
- Ensuring the alternate payee, and not the participant, is responsible for applicable taxes when benefits are distributed
There are certain things a QDRO must contain, and we use our experience to make sure the forms in your case are in order. These forms can be a crucial part of your family law proceedings, so working with an attorney who understands this process is crucial.
We Can Help With Post-Decree Work
QDROs are not the only post-decree work our firm handles. We can work with you on modifications to parenting time, child support or custody, appeals and spousal maintenance. Regardless of the post-decree work you come to us for, we will use our experience and knowledge to serve you.
These matters can impact your life for years to come, which is why working with a skilled attorney is so crucial. At Meier Schack, LLC, we are dedicated to providing compassionate service while advocating for your best interests. Contact us by calling our Minneapolis office at 612-470-8885 or filling out our online form to schedule an appointment and learn how we can help you.