In Arkansas, each spouse is entitled to an equitable division of marital property. Often, the division of marital property involves the division of retirement and investment accounts. If retirement benefits are awarded to spouse by a property settlement agreement or decree of divorce, a qualified domestic relations order ("QDRO") must be subsequently entered with the court.
A QDRO is an order that defines an alternative payee’s right to receive a portion or percentage of the benefits payable under a retirement plan. The “alternative payee” is the spouse to receive the benefits from the other spouse’s retirement plan. The “participant” is the spouse whose retirement plan will be apportioned. If there are multiple retirement accounts to be apportioned, multiple QDROs will need to be completed.
Obtaining a QDRO involves a complex and lengthy legal process. If retirement benefits were awarded to you by a property settlement agreement or a decree of divorce, M.W. Law, PLLC can assist you with obtaining a QDRO.
Contact M.W. Law, PLLC today to schedule an appointment to discuss the QDRO process.