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Maintain your rights with early QDRO enforcement

by | Feb 7, 2017 | Property And Asset Division

Identifying pensions as an asset as early as possible and claiming your rights to it is a complex and time sensitive matter. Creating a proper Qualified Domestic Relations Order during the divorce settlement is critical to alternate payees being identified and entitled to money owing as a result of pension contributed to during the marriage. A QDRO permits the un-named spouse of the contributed or formulated retirement plan to lay claim to a portion of the pension value.

Ensure your orders clearly identify who qualifies, parameters for transfer of entitlement and what portions of the pension contributed to during the union you can claim title too. Unambiguous language should be used to assert joint ownership and agreement for dispersal of money and so on to avoid costly mistakes and delays that might cause you harm in the future.

While creating the QDRO during the divorce or separation proceedings is important, it is likewise critical to have the documents implemented as soon as possible so as not to lose your declaration. Like any judicial order, waiting to file can weaken your position and further complicate entitlement to pension income.  A false sense of security often guides many spouses when drafting divorce orders as there is a statute of limitations on filing; however, sitting on your rights can be a mistake.

The guidance of a trained divorce attorney can help you establish and negotiate properly formulated orders that protect you and your family from losing rights to 401K and other pensions. An expert can take you through the process and represent your interests as well as help file orders early for enforcement. Protect your income today and in the future with Qualified Domestic Relationship Orders that register your privileges under a fair dividing of pension income as a participant spouse.