Olympia Lawyers Assisting with The Preparation Of Qualified Domestic Relations Orders
The end of a marriage can lead to many complications and substantial confusion especially when dealing with the division of retirement assets. Such assets can include pensions, military pensions, 401(k) plans, employer-based annuities, individual retirement accounts (IRA’s), Keoghs, and more. Although a Divorce Order (Dissolution Decree) sets out the how the spouses’ retirement assets are to be divided in general, due to federal laws governing retirement plans, your plan administrator can only divide assets if it receives a more detailed family court order called a Qualified Domestic Relations Order (QDRO). This is a very technical document that must be prepared for each specific retirement benefit plan being divided, and contain the exact language required by the plan named in the QDRO. Retaining an attorney to assist with the drafting of a QDRO is an important step to ensuring that things are handled correctly. Our Olympia lawyers are able to assist with such matters. Contact us today to schedule an initial consultation. We also assist those in Tacoma and other Washington areas.
Attorneys assisting Olympia and Tacoma residents with preparing a Qualified Domestic Relations Order
Washington is a community property state. This means that each spouse owns half of the other spouse’s retirement assets that were earned during the marriage. The Dissolution Decree will set out a general description of how these retirement assets should be divided. (For example, it might say that all retirement funds held by both spouses are to be divided fifty-fifty.) Federal law, however, does not permit the retirement plan administrator to distribute retirement plan assets based on a general description in a Dissolution Decree. Instead, the plan administrator must receive a detailed order setting out the specific instructions for dividing the specific asset in their care. The content of a QDRO will vary from retirement plan to retirement plan. Your attorney must work with each plan affected by the Dissolution Decree and draft orders for each specific retirement account. Because this process is extremely technical, many attorneys opt not to assist their clients with this task. By retaining counsel, who is able to assist with such matters, you help yourself to move on with your financial future as quickly as possible.
Our Olympia divorce attorneys assist with the drafting of qualified domestic relation orders. If we did not handle your divorce proceeding, then we will quickly obtain a copy of the Dissolution Decree so that we may begin the process on your behalf. For each retirement plan to be divided, we will talk to the retirement plan administrator, draft up a QDRO with the necessary language, and obtain the plan administrator’s sign off on the order prior to filing it with the court. This helps to ensure that your retirement plan administrator will have no difficulty dividing up your retirement asset as requested. We will promptly return your phone calls, quickly reply to your emails, and will ensure that your questions are timely answered. We understand that this is a serious time in your life and that you want to move on as quickly as possible. We are ready to assist you.
Our firm also serves the Thurston County cities of Lacey, Tumwater, and Yelm, the Pierce County cities of Tacoma, Puyallup, and Lakewood, the Lewis County cities of Centralia, Chehalis, the King County cities of Seattle, Auburn, Bellevue, Burien, and Federal Way, as well as other areas in Washington, including Grays Harbor, Mason, Cowlitz, and Pacific Counties.
Olympia QDRO lawyers drafting the necessary documents for an affordable price
If you have just completed a divorce, then you have been through enough. The last thing you need is to pay large fees for the drafting of a QDRO. Our attorneys strive to draft such documents for an affordable price. We understand that your money is better spent on things besides legal fees. Contact our office today for assistance.