Apr 162010
Click to Visit the Articles Section
The articles section of WWW.QDRO.PRO has many helpful articles for divorcing parties and their attorneys. Below is a brief description of each article:
- Disposition of Retirement Plans in Divorce — This article is a primer on QDROs. It is especially helpful for people who are entirely unfamiliar with the division of retirement plans.
- Dangers of Using QDRO Forms – This article warns about the risks of using so-called “model” QDROs, online QDROs or one-size-fits-all QDROs.
- The QDRO Process Steps – This article, like the primer, is a good read for someone who doesn’t know where to begin. It explains when a QDRO is drafted, submitted to the plan and entered with the court which steps do not always take place in that order, as the article explains.
- Coverture Methods — This article explains methods of determining the marital portion of a retirement benefit. Although this is one of the more advanced topics, it is critically important that divorce attorneys understand coverture methods. In many states, including Michigan, the coverture method used can be negotiated by the parties. The inadvertent selection of a coverture method that disadvantages your client would be a significant error. Attorneys: If you do not know the difference between accrued coverture and prospective coverture, then you definitely should take the time to read this article.
- Survivorship — Shared Payment and Separate Interest — What happens one one of the divorcing parties dies? Answer: it depends on the QDRO and the plan rules. This is the most advanced topic covered by the articles. The difference between these two division schemes is guaranteed to have a significant impact on the divorcing parties. We assist our clients in choosing between these two schemes and explain the implications of each.
- Timing Considerations and Malpractice Traps – This article explains why it is important to get the QDRO done right and done expeditiously. Attorneys who put QDROs on the back burner or dabble in filling out forms, should read this article (and increase their malpractice insurance!).
- For Attorneys — Judgment Examples – This article provides a handful of examples of Judgement of Divorce provisions for dividing a retirement account or pension plan. Frankly, we still see many Judgments with poorly drafted awards. This invariably creates headaches for us, the divorcing parties and the attorneys. Properly drafted Judgment provisions will make the process run much smoother. For cases in which we are retained to prepare the division orders, we will assist attorneys with drafting Judgment provisions at no additional charge.
- Non-Qualified Plan Orders – Non-Qualified Plans typically cover only the most highly compensated employees at a company. These plans, sometimes referred to as “top hat” plans, require special division orders that are not QDROs. It is vitally important to discover these plans because they often pay substantial retirement benefits. If you encounter a Non-Qualified Plan in a divorce, you need the assistance of an expert in retirement plans.
All of these free articles are available on our website. We have other articles covering various topics that we provide to clients on an as-needed basis to help them understand the issues that arise in their particular case. If you have questions about any of the articles, please call Jon Mallin at 248.865.4700 x281 or email him at JON@QDRO.PRO.
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