It might seem odd that our website promotes the fact that we don’t sell financial products to our clients. To those unfamiliar with the industry, many QDRO preparers sell financial products to clients. The problems with these firms are two-fold:
First, selling financial products unquestionably compromises the integrity of a QDRO drafter. They may encourage you to take a lump sum distribution from a 401(k) in order to reinvest the assets through their firm. They may encourage forgoing certain survivorship interests in favor of life insurance schemes. I am a member of a small but very skilled group (maybe “elite” is the proper term) of QDRO drafters that has been in existence almost a decade. It includes many of the best in the country and none of them sell financial products. Period.
Second, those who sell financial products are not attorneys and they certainly aren’t organized as a law firm. Attorneys practice law. Among other things, they are trained to draft legal documents. QDROs are legal documents. I won’t waste too much time pitching my own profession, the training required, the bar association requirements, the discipline process but these are all things to consider. Also, it is unlawful for non-attorneys and ordinary Limited Liability Companies (LLCs) to practice law. While this line is somewhat blurred at times, non-attorneys cannot provide legal advice to divorcing parties. No exceptions. If you are a divorcing party hiring a non-attorney, not only are you likely to receive poor advice but the person delivering the advice is breaking the law (the unauthorized practice of law or “UPL”). One process that has developed to avoid UPL is using a divorce attorneys act as a conduit between the non-attorney QDRO drafter and the divorcing party. Therefore, the attorney is the one “on the hook” for malpractice and responsible for insuring that sound legal advice is delivered to the divorcing party. This is somewhat like the telephone game and complicated matters tend to get muddied by the time they reach the divorcing party.
Bottom Line:
QDRO Professionals is a law firm. We offer independent, objective advice and counsel.
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