Qualified Domestic Relations Order

Question: reguarding a qualified domestic relations order? as a petitioner of a quad and being awarded one half of paticipants account balance accumulated by paticipant am i required to pay one half of any outstanding loan balance?

Answer: I believe so. If you'd worded your question in plain language I'd have been sure that I understood what you're asking and could give you a more definite answer. If you get half the bank account, you also get half the debt...

Question: What is a qualified domestic relations order - I may be entitled to my ex's pension? (any lawyers here?) The thing is, my divorce was ten years ago.

Answer: The QDRO is the legal document, a court order signed by a judge, that is sent to the retirement plan requesting a distribution for the spouse of the employee. It has to be in a defined format, which your lawyer may or may not succeed in drafting correctly on their first attempt. The key point is what ownership rights did the divorce decree grant you in the retirement plan? This should have been part of the division of property that took place as a part of the divorce ten years ago.

Question: Need information on pension qualified domestic relations order?

Answer: go to irs.gov and search on there taxpayer publications

Question: In California, how do you get a QDRO (Qualified Domestic Relations Order)? My ex did not get one when she divorce me years ago and now I retired. She is entitled to some of the community property share of my retirement and a QDRO is required by my Pension Dept. to resolve who gets what of the shared amount when we were married. How do you get a QDRO in California? Do both of us have to sign it?

Answer: My Mother just got done dealing with all of that. It took more than 5 years, but her situation with my father was complicated because he died before everything was settled. Do you have a lawyer already? I can find out more info about it, so if you're interested, you can send me a message and I'll ask her where you need to start.

Question: Qualified domestic Relations Order (QDRO do they have to be done in one installment or over time?

Answer: i dont know what this is about...

Question: how long does it take for qualify domestic relation order to go through/? I am going through a divorce,but before that happens my lawyer is asking for a QDRO, Qualify Domestic Relations Order. It has been a while and I haven't heard anything yet, I want to know how long does this takes.

Answer: QDRO guidlelines are established by the US Department of Labor and enforced by individual states through these guidelines. If you have concerns about how this order is being processed and administrated then I would suggest calling them direct with all your information. http://www.dol.gov/ebsa/faqs/faq_qdro.ht… http://www.dol.gov/ebsa/Publications/qdr… If I can be of more assistance feel free to ask. Best of Luck!

Question: how long does it take to with draw a 401K from a court order via divorce? Once a qualified domestic-relations order from a judge is issued how long does it take to receive the funds as a lump sum?

Answer: Anywhere from 30 days to 1 year depending on the plan and terms. The last company I worked for only disbursed once a year!

Question: Does a woman receiving pension benefits from divorce lose them if she remarries? The verbage of the Qualified Domestic Relations Order doesn't mention it one way or another. It just states she is to receive her portion of the pension benefits for her lifetime. Someone told her however that if she remarries, she forfeits those benefits. I thought that was just for alimony?

Answer: no

Question: what tax rate % do I pay when cashing out from a profit sharing plan from an ex spouce? this is a "QDRO" Qualified Domestic Relations Order

Answer: You will pay ordinary income tax on that money as if you had earned the money in the year you received it. You will avoid the 10% penalty for early withdrawal due to the QDRO. So the % tax rate will depend on your other income for the year.

Question: 401k QDRO split and hardship withdrawal? Hello. My wife and I are going through a divorce. If we have a qualified domestic relations order (QDRO) and my 401k is split or given as part of the divorce settlement, can I or my exwife (tobe) take money out under hardship withdrwal to purchase a house after the divorce? I wanted to know if either of us can give up the current house we have, the other may be be able to buy a house using the 401k funds. Any help appreciated.

Answer: i believe a hardship withdrawal is only to save a house you own,not to puchase another. a QDRO withdrawal is court ordered,a completly differant senerio.

Question: what does 414 mean in court? my boy friends sister recived a letter from the court and her lawer isnt answering. What does it maen when they say this. We have reviwed the conformed Domestic Relations Order entered with the Court on May 08 and upon reviwed it is our determination that this order DOES NOT meet the requirments of Qualified Domestic Relations Order as the term is definded in Section 414(p) of the internal revenue Code, As required by federal law, enclosed are the plans procedures to determine the qualifed status of an order Please be advised of the following: This office requires recepit of an original or court certified true copy of the order(indicated by the stap or seal of the court) before it can be qualified. Please submit the Order as soion as possible so that we can proceed in the processing of this QDRO. If someone could please answer me as soon as you can cause i really need to get this answered to her so that she wont get introuble. That would be great. Thanks.

Answer: The lawyer's legal assistant can probably answer your questions, but the letter is about the following : According to the IRS, a QDRO is a judgment, decree, or order relating to payment of child support, alimony, or marital property rights to a spouse, former spouse, child, or other dependent. The QDRO must contain certain specific information, such as the name and last known mailing address of the participant and each alternate payee, and the amount or percentage of the participant's benefits to be paid to each alternate payee. A QDRO may not award an amount or form of benefit that is not available under the plan. A spouse or former spouse who receives part of the benefits from a retirement plan under a QDRO reports the payments received as if he or she were a plan participant. The spouse or former spouse is allocated a share of the participant's cost (investment in the contract) equal to the cost times a fraction. The numerator of the fraction is the present value of the benefits payable to the spouse or former spouse. The denominator is the present value of all benefits payable to the participant. A distribution that is paid to a child or other dependent under a QDRO is taxed to the plan participant Section 414 of IRS : http://www.irs.gov/govt/tribes/article/0…

Question: in the state of ga. after a divorce is final, how long does it take to recieve payments? payments are from a qualified domestic relations order involving partners retirement benefits? will it take a few weeks or months or longer?

Answer: What paperwork did you send to the agencies that handle his retirement benefits? If you don't send it, it's never going to happen.

Question: should I withdraw money from my employer sponsored pension plan? I have about $10,000 in credit card dept that I really want to pay off. I am a 30 year old female and the plan only started a few years ago so I don't have much in it. This is an emloyer sponsored plan, my employer puts 25% of what i make a year into my plan every jan. my question is Can I withdraw money to pay off a credit card dept? and would this be smart? I have a little over $8000 in credit card dept and just bought a house. i wrote to my pention comany and this is the response i got, i dont really understand it Thank you for your recent e-mail to Vanguard(R). We appreciate the time you have taken to contact us---and this opportunity to reply. You can request a distribution from a profit-sharing plan account for the following reasons: * Required minimum distribution. * Separation from service. * In-service withdrawal (if allowed by your employer). * Total or permanent disability. * Hardship withdrawal (if allowed by your employer). * Plan termination. * Qualified Domestic Relations Order. * Death. Please note that distributions from profit-sharing plans are subject to ordinary income tax. If you take a distribution before you turn age 59-1/2, you are subject to ordinary income tax and a possible 10% federal penalty tax. The 10% penalty tax generally does not apply to distributions taken for the following reasons: * Disability. * Medical expenses exceeding 7.5% of adjusted gross income. * Health insurance premiums (after the employee has received at lease 12 consecutive weeks of unemployment compensation). * Distributions taken in substantially equal periodic payments (SEPPs). * Separation from service (if the employee reached age 55 or older during the calendar year of retirement). * Transfers or rollovers to another retirement account. To take a distribution from a Vanguard(R) profit-sharing plan, please complete and have your plan administrator sign the Qualified Retirement Plan Single Distribution Request form. To access the form, go to Vanguard must withhold a minimum of 20% from your distribution for federal income tax unless the distribution represents a required minimum distribution or hardship withdrawal distribution, in which case the withholding is reduced to 10%, but may also be waived. Depending on your situation, you also may be able to withhold a portion for state taxes. For more information, refer to the Special Tax Notice Regarding Plan Payments, which accompanies the form.

Answer: Vanguard can't answer the most important question, are the contributions that have been made "fully vested". I would bet that you have to be with your company 10 or more years for the contributions to be considered "fully vested". Also, with the dramatic downturn in the stock market, your plan isn't worth much now anyway. You need to ask your employer (probably HR) two questions: 1. Is my plan fully vested (meaning the money is actually yours) and 2. Can I take a loan against the plan. The last thing you want to do is take an early withdrawal from retirement. By the time you pay the penalty-10% to the IRS- and the state & federal income taxes, you won't be left with much at all. For $8k, maybe you could just take a second job and take every dime of that paycheck and start paying the credit companies with it. Start with the highest interest rate first. Good luck. Just know that $8,000 is nothing, there are lots of people that owe tons more.

Question: Forgery question? Is forgery covered in one of these? : Family Law; Divorce; Alimony; Divorce Mediation; Domestic Violence; Domestic Torts; Equitable Distribution; Marital Agreements; Marital Property Distribution; Marital Property Law; Paternity; Post Divorce Modification; Premarital Agreements; Qualified Domestic Relations Orders (QDROs); Restraining Orders; Separation Agreements; Spousal Support; Uncontested Divorce; Business Formation; Wills; Living Wills

Answer: Forgery is a crime, so it's criminal law.

Question: Need to find people or organizations that prepare QDRO's in Ohio? (QDRO) Qualified Domestic Relation Order

Answer: Legal Aid is provided by every state and for Ohio, can be found at : http://www.columbuslegalaid.org/ Also, here is another site that you may want to look into: http://www.dol.gov/ebsa/faqs/faq_qdro.ht… Good luck

Question: CA Divorce QDRO Form? Hi all, I am divorcing my wife. In the community property, I let her have half of my 401K. Someone told me I have to file QDRO form called Qualified Domestic Relation Order. Do I really have to do this? thanks I dont get it..do what?

Answer: Stupid, stupid move. Who told you to do this?