A QDRO, or a Qualified Domestic Relations Order, acknowledges the right of another person (known as an alternate payee) to receive some or all of a participant’s retirement plan. The order must meet specific legal requirements and provide the following information:
• The name and mailing address of the plan participant and alternate payee
• The name of the retirement plan or plans the order applies to
• The percentage of the benefit or the dollar amount paid to the alternate payee
• When and how payments will be made
Retirement plans must be divided at the time of the divorce. A ten percent early withdrawal penalty may apply if assets are withdrawn from a 401(k) or IRA before you reach age 59.5 years old; you can avoid this fee by rolling the withdrawal into a qualified retirement plan account.
Our attorneys can help you understand the QDRO or answer any financially related questions you may have. We have handled hundreds of complex divorce cases and are ready to advise you on the best course of action for your specific case. Call 770-408-0477 today to schedule a consultation today.
Coleman Legal Group, LLC team of divorce and family law attorneys handles cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Johns Creek, Milton, Cumming, Marietta, Sandy Springs, Woodstock, Kennesaw, Gainseville, Norcross, Lawrenceville, Midtown, Inman Park, Duluth, Buckhead, Dunwoody, Vinings, Old Fourth Ward, Sugar Hill and Smyrna.
Our dedicated team of divorce and family law attorneys frequently handle cases for clients residing in the following counties: Fulton, Gwinnett, Forsyth, Cobb, DeKalb, Henry, Cherokee, Douglas, Carroll, Coweta, Paulding, Bartow, Hall, Barrow, Walton, Newton, Rockdale, Henry, Spalding, Fayette and Clayton.
Coleman Legal Group, LLC’s Georgia lawyers practice in the areas of Divorce, Family Law, Bankruptcy, Immigration and Business Law. We have two convenient offices located at:
Alpharetta Georgia Office
5755 North Point Parkway
Alpharetta, GA 30022
Atlanta Georgia Office
659 Auburn Avenue Northeast
Atlanta, GA 30312
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