What is a qualified domestic relations order (QDRO)?

A qualified domestic relations order (QDRO) is a legal document in Virginia that allocates money or assets to a non-wage earning spouse or dependent from a retirement account. It allows for the division of property in a divorce. In Virginia, a QDRO is also referred to as a court order for spousal support. When a divorce judge issues a QDRO in Virginia, the court specifies the amount and duration of payments to the non-wage earning spouse or dependent and how to divide property from the retirement account. The QDRO is a legally binding document, which is why it’s important for both spouses to agree to the terms of the order. The QDRO must be drafted in a specific and specific manner, and must include all the details of the division of asset or funds as prescribed by the court. The QDRO must be filed with the court in order to become effective, and it must reflect the court’s orders accurately. Once the QDRO is filed with the court, the retirement plan administrator can begin the process of splitting the assets or funds between the parties. The administrator will process the order and issue any necessary tax forms to the parties. It’s important to note that the parties must keep copies of the QDRO to comply with the applicable regulations.

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What is a qualified domestic relations order (QDRO)?

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