1 Carriage Lane
Building I, Suite 202
Charleston, SC 29407
QDRO Professionals, LLC
1 Carriage Lane, Building I, Suite 202, Charleston, SC 29407
(p) 843-779-5664 (f) 864-673-0283
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ALL RIGHTS RESERVED.
A Qualified Domestic Relations Order ("QDRO") is a court order that is required after a separation or divorce to effectuate a tax-free, penalty-free transfer of retirement assets from one party to another. If you are getting divorce and your husband or wife has retirement funds that were accrued during the marriage, those assets are deemed marital property and subject to division upon separation or divorce. The division of retirement assets in a divorce case can be quite complicated, and it is crucial that you hire an attorney to assist in this process. If you are awarded a portion of your spouse's retirement assets by a separation or divorce order, you will need a QDRO prepared to finalize the process and effectuate the transfer.
Drafting QDROs requires a comprehensive understanding of applicable federal laws, state laws, and plan procedures. This is a challenging task that should be handled by an experienced attorney.
While the term "QDRO" is generally used to refer to court orders dividing retirement assets, some agencies refer to them by a different name. For example, if you have a Federal Civil Service Plan (FERS or CSRS), the Order is called a Court Order Acceptable for Processing ("COAP"). If you have a Thrift Savings Plan, the Order is called a Retirement Benefits Court Order ("RBCO").