DIVIDING IRA BENEFITS? (TO QDRO OR NOT TO QDRO)
Some IRA Administrators Still Require QDROs/DROs: As with ERISA-qualified pension and 401(k) plans, IRA benefits are also considered marital assets subject to equitable distribution upon divorce. Many attorneys attempt to use a traditional QDRO to divide IRA benefits, not realizing that IRAs are exempt from the federal QDRO provisions. However, for unknown reasons, some IRA […]
THE BEST-KEPT SECRET FOR OBTAINING PAST-DUE CHILD SUPPORT FOR YOUR CLIENT – A “CHILD SUPPORT” QDRO
With the “deadbeat” parent population growing by leaps and bounds, a QDRO should now be considered your primary weapon of choice in obtaining these overdue assets for your client. Millions of custodial parents throughout the country are owed past-due child support, yet may not know about this very important use for QDROs. When Congress created […]
NEVER, NEVER, EVER—THREE QDRO PROMISES THAT WILL SURELY LAND YOU IN HOT WATER WITH YOUR CLIENT
If you represent the alternate payee, never make promises that you cannot keep, or you could end up on the wrong side of a malpractice case. 1. Never, never, ever promise your client they will receive a “specific” dollar amount in their QDRO distribution: For defined benefit pension plans, your client’s share of the benefits will […]
