What is a Quadro or Domestic Relations Order?
After a divorce if you are entitled to any of your spouse’s pension or any retirement benefits you must prepare either a Domestic Relations Order or Qualified Domestic Relations order for the plan to approve and effectuate your share of the benefits.
It is very important to have this done at the time of your divorce. To wait puts you at risk of not receiving what you are entitled to. Also you want to make sure it is done correctly. When our firm represents a client n this process we follow a step by step process to ensure the Order is prepared correctly. The Order must follow everything that is in your divorce. We determined how many orders may be required. Many Plans require different orders for each type of investment vehicle. By way of example a Plan will require one order for a pension and a separate order for an annuity or savings plan.
We will obtain plan approval of the order before it is submitted to the Judge for signature. This is a requirement. Then we submit it to the court after giving proper notice to the other party or their attorney.
Why our firm is different from the rest particularly services who claim to prepare these complicated and involved orders for a flat fee is that they do not give the detailed attention and follow up we do. We make sure the order is prepared correctly we follow up with the plans to make sure we get the plan letter in a timely manner. Then after we serve the order on the opposing side or counsel we file it with the Judge and make sure it is signed.
Unfortunately I have had clients who did not have their orders not done in a timely manner and the spouse retired or liquidated the account; or the clients had them prepared incorrectly and the orders had to be amended sometimes requiring they be brought before the Judge and court appearances were necessary.
Our firm tracks the order and once signed we get a certified copy serve it on the plan with a letter of instruction and help our clients get the monies they are owed by helping with the rollovers of IRAS, 401K’s, annuities, deferred compensation plans, or savings plan. You can’t do it alone. Let us help you receive the money you deserve. Our expertise and diligence is priceless and you get what you pay for.