If you are contemplating or are on the brink of going through a divorce, and you want to ensure that you will receive your Erisa-qualified retirement assets, you would be wise to have a Qualified Domestic Relations Order prepared by an experienced and knowledgeable team of Tulsa family law attorneys.
Below are a few answers to some of the more commonly asked question about Quality Domestic Relations Orders or QDROs from the Tulsa family law firm of Fry & Elder.
What is a Qualified Domestic Relations Order and why the need for one?
The fact of the matter is going through a divorce is difficult enough without the added pressure of dividing retirement funds. If a premarital agreement was not written up then generally any assets that have been acquired by either party during a marriage are considered marital. Things like contributions to a retirement plan by the employee or employer are included.
QDROs are important documents because they are required for things for 401(k)s, pensions, 403(b)s and some other retirement plans that you might have set up with your company.
Why consult with an experienced family law attorney to draft out a Qualified Domestic Relations Order?
Like a lot of things associated with divorce and specifically the financial aspects of divorce, QDROs are more complex than you might initially think.
While there are some outlets that include model language on how a QDRO should be written up, an experienced family law attorney will help minimize the risks of any potential errors. This is all the more important through the review and approval process before you hand it over to the court to be signed as an order and ultimately get it incorporated into the Final Judgement of Dissolution of Marriage.
Experience the Fry & Elder Difference
Since 1932, the name Fry & Elder has been synonymous with Oklahoma legal excellence.
The firm has been named to highly-regarded U.S. News & World Report’s Best Law Firms List each of the past five years and its attorneys include the following:
- A 2018 Best Lawyers® Selection
- One of only 19 attorneys in the state to be a Fellow of the American Academy of Matrimonial Lawyers
- Best Lawyers® Lawyer of the Year for Family Law in Oklahoma 2016
- Four attorneys recognized by Super Lawyers®
- Three attorneys AV® Preeminent Peer Review Rated by Martindale-Hubbell®
- A Cherokee Nation District Court Judge
- The 2018 Fern Holland Award Winner
- A 2017 OBA Earl Sneed Award Recipient
- The 2018 Tulsa County Bar Association Family Law Section Chair
- A 2017 Significant Sig Award Winner
As you can see, the division of retirement assets during a divorce can be tricky and time consuming, making it all the more important to utilize the services of a well versed Tulsa family law attorney, particularly to make sure that everything is properly divided through the implementation of a well thought out Qualified Domestic Relations Order.
Contact Fry & Elder today to get started on your Qualified Domestic Relations Order.