Agreement Language

We prepare your QDRO and also provide the Settlement Agreement Language that reflects the prepared QDRO.

The ideal way to address the division of a retirement account upon divorce is to prepare the QDRO concurrently with the Settlement Agreement and incorporate it by reference in the Settlement Agreement. QdroDesk™ makes this easy because the Settlement Agreement Language and the QDRO are prepared instantly with editing capabilities in PDF and MSWord versions, thus making it easy to have available before, during, and after settlement negotiations.

The instant delivery and edit capabilities of QdroDesk™, combined with the above approach provides future financial protection to the nonparticipant (receiving) spouse and eliminates further surprises and negotiations regarding the QDRO if it is prepared after the divorce has been finalized. Without taking this timely approach, the nonparticipant spouse jeopardizes:

  • Losing all of his or her pension if the participant dies;
  • Losing rights to a preretirement survivor annuity;
  • Losing rights to a separate interest lifetime pension if participant retires;
  • Losing rights to a coverture-based pension;
  • Losing rights to an early retirement subsidy;
  • Missing months or years of pension payments if the participant retires unbeknownst to the non-participant spouse;
  • Losing investment gains on 401(k);
  • Losing entire 401(k) assignment if participant quits and takes distribution;
  • Losing entire 401(k) assignment if participant dies;
  • Losing rights to name beneficiary upon own death; and/or
  • Losing rights to direct own plan investments under Code Section 401(k).
It should now be obvious that there are many adverse financial consequences and hardships that can occur if the QDRO is not prepared in a timely fashion. Ideally, you should prepare the QDRO at the same time as the Settlement Agreement and then incorporate it by reference directly into the agreement. In this manner, there will be no confusion down the road, nor will you have to deal with an irate attorney (for the participant) or opposing party when you try to include this language in a QDRO drafted after the divorce is finalized. If you do not incorporate the QDRO by reference, you must, at the very least, include comprehensive and definitive language in the Settlement Agreement. QdroDesk™ provides the QDRO and this definitive Settlement Agreement Language which reflects the details of the prepared QDRO.
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