"How We Can Help"
couple fighting over qdro division of assets
Couple arguing about how a qdro split is done during divorce
DON'T FIGHT OVER YOUR QDRO DIVISION !!
During most divorce settlements, the legal system treats marriages as if they were business partnerships, recognizing the necessity for equitable distribution of assets and liabilities, including retirement accounts and pensions. At QDRO-CALC, we understand the complexities involved in calculating Qualified Domestic Relations Orders (QDROs) and are dedicated to simplifying this process for you. Our expertise allows us to provide accurate and efficient calculations, ensuring that both parties receive a fair share of their retirement benefits. By leveraging our services, you can focus on navigating the emotional aspects of your divorce while we manage the technical details, ultimately facilitating a smoother transition towards your new beginning.
If you are presently facing a QDRO situation with a 401, an IRA, or a pension, you will have to figure out how much the funds that were put into the account during the marriage are worth now. Figuring the value of the accounts can often be a complicated issue as sometimes the account has funds in it from before the marriage, and often there will be contributions added to the account after the complaint date (the date when papers are served). Unfortunately, arguments about the values of the accounts sometimes delays the final solution. We will remove that hassle from you. All that is required is to answer some simple questions and input data into the account forms. You will receive a PDF report that can be emailed to your lawyer and the other parties in the divorce and everyone will see how the values were calculated. Then you can settle without any more expensive arguing.
A QDRO agreement can remove arguments about fair splitting of assets at the time of the settlement agreement and in doing so it removes huge barriers to getting a settlement done. However, for the final divorce to be over, the parties must still agree to the details of splitting the retirement plan assets. We can help you get there quicker and with less pain.
WHY IS DIVIDING THE SAVINGS PLAN ASSETS SO COMPLICATED?
Sometimes the account has funds in it from before the marriage, and often there will be contributions added to the account after the marriage partnership is called off. The latter occurs when papers are officially presented (by the plaintiff to the former spouse, i.e. the defendant) and this time is totally different than when you get your final divorce papers. This means that the papers are served and the business partnership ended well before the divorce is finalised. Any funds put into the account before the marriage began and into the account after the complaint date belong 100% to the account owner. The funds put in during the marriage (from the day of the marriage to the complaint date) are split equally between the two parties. This can get quite complex as the account will be changing value and the premarital, marital and post-marital funds will change value every day as interest, dividends or funds are added. If there are stocks in the account, the changes in account values can be dramatic.
Note that the marital value is almost never half of the total account value because of the premarital and post-marital contributions. If you are the account owner and the account is being split in half, you are unnecessarily losing significant assets, which can be tens of thousands of dollars. Also remember that if there are any contributions by the account owner before the marriage date, simply taking half the difference in account value between the marriage and complaint dates as the value that each party receives, can result in thousands of dollars of loss to you since gains on the account owners funds from before the marriage are split when they should not be. Similarly if there are contributions to the account between the complaint date (the date divorce papers are filed) and the current date, you can also also lose thousands of dollars by simply taking half the difference in account value between the marriage and the current date, since the account owners contributions and gains on the assets after the complaint date belongs solely to the account owner. We take care of all these contingencies so the split is done correctly and fairly.
There is nothing worse than one of the largest accounts that you will ever have being split in a way that you do not understand. Our approach and presentation of results helps prevent that. Note that we will take your numbers and calculate the QDRO division, but WE DO NOT DRAFT the QDRO agreement. Your lawyer will usually do that; there are online resources as well.
