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Florida Qualified Domestic Relations Order (QDRO)
When couples divorce, one party may be entitled to a part of the other’s retirement fund(s). If a judge has ordered that you are entitled to receive a portion of your former spouse’s fund, you will most likely need more than just your Final Judgment of Divorce to make that happen. You will probably need a QDRO, or a Qualified Domestic Relations Order. This can be one of the most complex aspects of your divorce settlement. In order to get started, you will need to complete the proper Florida QDRO forms.
A Florida QDRO is an order that will create or recognize the existence of your right to receive, or assigns to an alternate payee the right to receive, all or some of the benefits payable to a participant in a retirement plan such as a 401k, pension plan, etc. A properly completed Florida QDRO form will include required information that will meet specific requirements set forth by the administers of the plan.
Realizing too late that you should have filled out QDRO forms can be traumatic. Imagine learning years after your divorce that the retirement funds that you thought you were entitled to are no longer required to be paid to you, because the judge didn’t sign a Florida Qualified Domestic Relations Order.
To further confuse the issue, there is not a, “standard” QDRO form. Each retirement company has their own QDRO documents, and some have several depending on the fund. QDROs also differ between a pension plan account and an investment plan account. Figuring out which QDRO forms to use and where to get them can be half the challenge.
We have experience in preparing forms for the Florida Qualified Domestic Relations Order, (Florida QDRO),and we’d be happy to discuss your document preparation needs.