The Divorce Decree is finalized. Is there anything I should be aware of for the QDRO?

RevolutionaryLaw8854 · 2023-10-29T20:48:55+00:00

And chances are it gets fucked up the first time. Pay attention

domo_roboto · 2023-10-29T20:45:34+00:00

In my case there are two types of retirement accounts: IRAs and work sponsored 401k/403b. You can split IRAs without QDRO but depending on your brokerage they may want to see everything spelt out in the court order. For 401k, if you’ve already left the job then you can roll them over to a roll over IRA and split it like above. For 401k in a company that you’re still working at, you’ll need a QDRO which in my mind is a pain and there are practices out there that will charge $500+ to do it for you. It’s difficult to DIY (I looked into it and decided not to attempt). In fact, my ex would need to QDRO a payment to me because she has more in her community asset than me but it wasn’t large enough to go through the trouble so I proposed to forgo that to save her the troubles.

rsmiley77 · 2023-10-29T21:52:06+00:00

The bank is very particular about these and you’ll have to jump through hoops for it to happen.

ranger69danger · 2023-10-29T22:36:01+00:00

Damn bro. That is rough. So glad mine is approaching a year behind me. You can finish this and go on to other better things faster than it might feel right now.

NashCp21 · 2023-10-30T01:17:41+00:00

If there’s so many hoops, who is the one that’s pushing things to happen supposing that ex is the forgetful type

upvotersfortruth · 2023-10-30T03:35:36+00:00

Yes, they're easy to fuck up and may be rejected a number of times. Be patient, detailed and thorough.

Attentionless · 2023-10-30T04:42:42+00:00

What is QDRO, thanks in advance!

AirSailer · 2023-10-30T14:06:52+00:00

Just an FYI that with my QDRO my ex needed to set up an account at the same brokerage firm, in other words they wouldn't transfer the money to an account at a different bank. That added a week (not sure why it took a week to set her up an account) to the process. Your ex can get that started now. Also, call them and verify the address, some brokerage firms have a QDRO-specific mailing address.

Find your plan's policy on QDRO execution time frame, that will give you a rough estimate on how long it will take.

swampdonkey69769 · 2023-10-30T16:42:39+00:00

I’m curious- when my ex gets the money from my 401k will she be paying the taxes from that or will I have to?

life-is-short- · 2023-10-30T16:55:38+00:00

In my case it is stipulated in decree that other party is responsible to prepare and submit QDRO request to my brokerage company with a specific $$$ amount on the mediation date + any profit or loss injected

goodie1663 · 2023-10-30T21:33:52+00:00

Before you do anything, get the requirements from the institutions because they really, really vary. My attorney recommended delegating writing the order to a local professional because the details were not something he tracked. She was excellent and charged less than my attorney per hour.

The first one only required a notarized letter with our account preferences and certified copies of the divorce documents because I already had an account with them. I wrote the letter based on one I found online and had my attorney review it, and then we signed and got the documents to the institution. It took just a few weeks.

The second was a nightmare because it was a very detailed document that the specialist wrote. My ex decided to challenge it paragraph-by-paragraph. We had to threaten a contempt motion to get it moving. All told it was over a year because of my ex's delays and then incompetance on the institution's part. They lost the file, and then parts of the file repeatedly. Then earlier this year, I realized that they had significantly miscalculated in my favor. So I contacted them, and they got it corrected some months later. Lesson learned -- check the calculations.

The last one involved just a fill-in-the-blank form that they would accept in lieu of a QDRO if submitted with certified copies of the divorce documents. I had my attorney check it. Even then, that institution was a bit of a mess as well but eventually got it. The calculations were correct.

Hack3rDr3w · 2023-10-30T21:47:52+00:00

Yes. The JD QDRO language must address “market fluctuations”. This is super important. My attorney allowed my exs-attorney to draft the language and he purposely left that language out. I even bitched about it and everyone assured me it would be fine. Well, before the QDRO was executed the market dropped. The language clearly said 50/50 but they argued that the value was set (prior to market drop), and they used that amount - even though it said 50/50. Courts are not financial analysts they don’t understand the implications. The judgment went in her favor and while I could have appealed it would have cost me as much to appeal as she won in the judgement.

You can bet if the market went up instead of down they would have argued their amount should go up.

This is a situation where the haves (that’s me as I earn much more) are always on the loosing side of confusion.

Title	The Divorce Decree is finalized. Is there anything I should be aware of for the QDRO?
Author	dog_fart_tacos
Upvotes	6
Comments	16
Date	October 29, 2023 7:58 PM UTC (2 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/17jb62c/the_divorce_decree_is_finalized_is_there_anything/
Archive Link	https://theredarchive.com/r/Divorce_Men/the-divorce-decree-is-finalized-is-there-anything.1236698 https://theredarchive.com/post/1236698

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