California QDRO Attorney
When your marriage is over, you may need to hire a California QDRO attorney to help you obtain retirement benefits. Under California community property laws, a spouse’s retirement is considered marital property and can be divided upon legal separation or divorce. Former spouses, children, and other dependents may be entitled to a spouse’s 401(k) or related qualified employee retirement plan. The amount to be paid to an Alternate Payee will depend on the state in which the divorce occurred, the assets divided during marriage, and other factors.
California QDRO Legal Services
At San Diego Esquire, we provide affordable QDRO services to California residents and family law attorneys. Our flat fee QDRO services start at $495. Work directly with our California QDRO attorney throughout the entire process. Below is an overview on QDROs. Read on to learn more
What is a QDRO?
A Qualified Domestic Relations Order, referred to as a QDRO, is a court order that divides a retirement benefit plan in a divorce. A QDRO provides specific instructions to the retirement plan administrator on how to divide a pension. QDROs are created pursuant to state domestic relations laws and federal laws such as the Employee Retirement Income Security Act.
The divorce decree should identify the retirement plan, state the percentage (or dollar amount) of the retirement benefit to be awarded to the Alternate Payee (ex – former spouse, child, or other dependent of a participant), address survivor benefits, and post-retirement subsidies such as a cost of living adjustment. Defined benefit and contribution plans (including 401(k) 403(b), IRAs, and 457) may be divided by a QDRO
Understanding a QDRO
Money withdrawn through a QDRO is not subject to the typical 10% early withdrawal penalty. QDRO income is rollover eligible into other retirement accounts such as a traditional IRA. If you elect to receive the funds directly instead of rolling them over into a retirement account, you will be subject to mandatory withholding. Federal tax withholding is 20%. You may also have to pay state taxes.
San Diego Esquire QDRO Service
Sign up online for our QDRO service. Upon submitting an order, you will be emailed an intake questionnaire. You will provide information to us including your contact information, copies of your divorce judgment (including the marital settlement agreement), and your retirement plan information. Our QDRO attorney will follow-up with you if additional information is required.
Once we obtain all the necessary information, we will prepare the draft QDRO. The draft will be sent to both parties for review. If needed, the draft order will also be sent to the retirement plan administrator for pre-approval. When no further revisions are needed, San Diego Esquire will provide you with the final QDRO to file with the court and instructions on how to submit it to the plan administrator.
Contact us if you have any questions about our services.