QDROs And Illinois Divorce
Located in Barrington, Illinois, Richard W. Culver, Ltd. furnishes legal advice and representation pertaining to proposed Qualified Domestic Relations Orders (QDROs) in divorce/dissolution of marriage cases. Consider Richard W. Culver, Ltd. to help protect and safeguard your legal rights and financial interests during the divorce process.Protecting Retirement Benefits | Qualified Domestic Relations Order (QDRO):
In an Illinois divorce case, retirement benefits, if made or contributed to during the marriage, may be a substantial portion of the marital estate. A legal issue arises as to whether the retirement benefits, if considered marital property, were made to a private retirement plan or to a public retirement system.
If the retirement benefits were made to a private retirement plan and if the retirement benefits are considered marital property and will be divided between the spouses, then a Qualified Domestic Relations Order (QDRO) will be necessary. Please note that a private retirement plan cannot pay an alternate payee, such as a former spouse, based upon a Judgment of Dissolution of Marriage, incorporating a Marital Settlement Agreement; rather, a private retirement plan can only pay those retirement benefits to a former spouse according to a Qualified Domestic Relations Order (QDRO). A Qualified Domestic Relations Order (QDRO) creates or recognizes the existence of an alternate payee's right to, or assigns to an alternate payee the right to, receive all or a portion of the benefits payable with respect to a participant under a private retirement plan.
Due to the complex nature and the significant legal and financial implications involved in property division and in the preparing of a Qualified Domestic Relations Order (QDRO), it is prudent to seek the counsel of a skilled matrimonial and family law attorney. Richard W. Culver, Ltd. can help you learn more about Qualified Domestic Relations Orders (QDROs) and can evaluate your specific situation.Contact a Barrington QDRO Lawyer at Richard W. Culver, Ltd. With Your Questions and Concerns
If you have any questions or concerns pertaining to Qualified Domestic Relations Orders (QDROs), call 847-382-2900 or complete the online contact form to arrange a confidential initial consultation at Richard W. Culver, Ltd. Evening and weekend appointments are available in order to accommodate all schedules. Review seven tips for your initial consultation with a divorce attorney.