A Qualified Domestic Relations Order, also known as a QDRO, is a judicial order used in the courts of Alabama during a divorce that involve the division of retirement or pension plans. In some situations, a QDRO is particularly advantageous because the Order allows individuals to distribute assets to another party without taxation and penalties for early distribution. Qualified Domestic Relations Orders contain so many details that even some lawyers find these documents to be confusing. To make sure that a Qualified Domestic Relations Order is properly handled, clients in Birmingham often turn to a skilled Birmingham divorce attorney who knows how to properly execute these documents. These Orders are also so important that it helps significantly if clients have a basic understanding of the various elements about such an Order.
Not only do QDROs allow individuals to distribute assets without taxation or penalties for early distribution, QDROs are advantageous for other reasons. In many divorce judgments, a substantial risk exists that a spouse will never receive funds from a retirement account. QDROs authorize exactly when a payment will occur and the exact amount of pending payments.
There are many obstacles presented by a QDRO, which an experienced divorce attorney will know how to overcome. Some of these challenges include:
Many attorneys simply do not have the experience or ability to understand the various details concerning Qualified Domestic Relations Orders. If you are interested in utilizing a Qualified Domestic Relations Orders in your divorce, contact an experienced Birmingham family law attorney at Alabama Divorce & Family Lawyers, LLC today to discuss the various available options.
$2,000 -FOR- 3 months
Many divorces can be completed in this time.
$10,000 -FOR- 1 year