Qualified Domestic Relations Order (QDRO) Attorney in NH
A Qualified Domestic Relations Order is part of a divorce settlement. When a couple is divorced and there are retirement accounts that need to be divided, a QDRO is often needed. Without one, someone may be giving up all rights to accounts he or she has a legal right to have split between both parties. Any property division during a New Hampshire divorce may be complicated and retirement accounts may make the process even more complicated. If you are divorced and need a QDRO prepared, you need an experienced lawyer to help you draft and file a QDRO. The Law Office of Joseph M. Annutto can help you with the process and ensure you have access to the retirement funds that you have been awarded.
What is a QDRO?
A QDRO is a legal document needed to transfer ownership of certain retirement funds from one spouse to the other and avoid tax implications. The company through which the account exists needs to approve the document. Once approved, it will be necessary to decide how you wish for the funds to be distributed. The typical options may be to have the funds given as a cash payout or distributed in the form of monthly payments. You may also have the funds added to an existing 401(k) or IRA. One thing to note is that the person receiving the funds will also be responsible for any penalties that may result from early withdraws.
Protecting Your Finances
Giving up a portion of retirement funds can greatly impact the quality of life for someone who is newly divorced. A couple may have worked hard to invest and ensure growth of those funds as retirement nears. It is your right and obligation to protect your financial future through the use of of QDRO to access retirement funds awarded to you.
The Law Office of Joseph M. Annutto has the experience needed to assist in preparation of a QDRO and ensure you get the results you need from all property division decisions. Our firm will give your case the personal attention needed to ensure you make the best decision regarding distribution of funds. We know what is at stake and will work tirelessly to make sure all paperwork is filed and you get the best resolution for your case.