Is there a deadline for getting a QDRO done?
Posted on Jul 16, 2020 8:15am PDT
Melissa from Livingston, NJ asks, "Is there a deadline for getting a QDRO done?"
Pension Evaluators & QDROS Of Troyan, Inc Associates Group answers, "The deadline is not the important factor. The window of exposure
for the Alternate Payee (Former Spouse) after the divorce is immediate.
Therefore it is essential that we notify the plan via submission of the
draft Order to secure the interest of the former spouse. Our QDRO services
are designed to be activated as soon as you have an action established.
With that case number we become enabled to achieve all sorts of protections
and mechanisms in conformance with the parties' agreement. Every plan
has a different deadline for when the QDRO needs to be signed and sent
to the plan administrator. Once preapproved, a plan could even place a
hold on your QDRO award for 180 days. These are deadlines that should
not be tempted. Time is of the essence. Some plans have deadlines as short
as 3 months from the date the Judge signs the divorce decree. If possible,
you should find out what the QDRO deadline will be in your case BEFORE
your final divorce or dissolution hearing. Have the proposed QDRO ready
for the judge’s signature at your final hearing or trial or as soon
as possible after the divorce. After the judge signs the QDRO, quickly
give it to the retirement plan administrator."
Pension Evaluators & QDROS Of Troyan, Inc Associates Group QDRO Consulting
offers expert QDRO outsourcing services to divorce attorneys and mediators,
as well as retirement plan administrators.
Divorce attorneys/mediators – You can rely on Pension Evaluators & QDROS Of Troyan, Inc Associates Group QDRO Consulting to draft QDRO documents correctly and promptly for your
clients, and obtain pre-approval by the plan administrator. We will be
pleased to work with you, or directly with your clients, in the QDRO process.
Just complete and mail the application form on this site (or direct your
client to do so), along with prepayment of our fee, either by check or
credit card (online).
DISCLAIMER: Any legal information on this blog has been prepared by Troyan from informational purposes only and should not be construed as legal advice. The material posted on this website is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Note that sending an e-mail to Troyan does not create an attorney-client relationship, and none will be formed unless there is an agreement between the firm and the individual.