Menu Contact White & White, Attorneys at Law
Free Initial Consultation 865-622-7768

How to know when you need a Qualified Domestic Relations Order

Long-married couples with significant assets have more to lose in a divorce than those who were only married a short while and have few assets or resources. That's why it is imperative that both parties retain their own Seymour family law attorneys who can fight to make sure their clients receive all that they are legally entitled to have.

When it comes to retirement accounts, the working spouse is sometimes surprised to learn that their soon-to-be ex is entitled to a large chunk of the proceeds. This is true whether or not the spouse ever worked outside of the house or not.

Dividing 401(k) assets in Tennessee is done under the rules of equitable distribution. The court will allocate the 401(k) funds fairly to both spouses, which may or may not mean a 50-50 split. If the working spouse accrued some of the 401(k) funds prior to the marriage, that portion is considered separate and not marital property, and thus is not subject to division.

When splitting the retirement accounts, the courts consider multiple factors. These typically include how long the couple was married, the financial circumstances of both parties and the amount of funds in the retirement account(s).

If the couple independently reaches accord on these matters, then the court does not need to intervene. However, the divorce judgment will be insufficient for the plan administrator to disburse funds to the working spouse's ex.

What you need is a Qualified Domestic Relations Order (QDRO). After the judge signs the QDRO, it must then be submitted to the plan administrator for approval. Only then can funds be transferred from the retirement accounts.

If you're uncertain what you need in order to obtain a proper share of the assets you and your spouse have acquired together, your attorney can help guide you.

No Comments

Leave a comment
Comment Information
Honors & Memberships
  • 10 Best – 2016 | Client Satisfaction | American Institute of Family Law Attorneys(TM)

    He has received this award 2016-2019 for 10 best Attorneys, Client Satisfaction Award.

  • The National Top 40 Under 40 Advocates

    He has received this award 6 years in a row now. for Top 100 Attorneys.

  • 10 Best Attorney | Client Satisfaction | American Institute of Family Law Attorneys(TM)

    Member since 2018 for Top 10 Family Law Attorney for Tennessee.

  • Family Law Top 10 Attorney - 2017-2019 | Attorney and Practice Magazines

    Member since 2017 for Top 10 Family Law Attorney in Tennessee.

  • Best Legal Counsel

    Member since 2018 for Best Legal Counsel in Family Law.

  • Lawyers of Distinction

    Member since 2017 for Excellence in Family and Divorce Top 10% in the USA.

  • Best Attorneys of America | Lifetime Charter Member

    Lifetime charter member for Best Attorneys in America for Tennessee.

Contact Us For A Free Case Evaluation - Email or Call 865-622-7768

White & White, Attorneys at Law, is committed to working with individuals to help them reshape their lives. Perhaps you need a second chance after getting arrested; maybe you're trying to pull yourself together during a frustrating divorce. Whatever the issue, the experienced lawyers at White & White, Attorneys at Law, are here to help.

Individuals are encouraged to contact the firm online or call to schedule a free initial consultation and discuss their legal needs with an experienced Sevierville family law attorney. Appointments are scheduled during regular business hours, but evening and weekend appointments are available upon request.

EMAIL US FOR A RESPONSE

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

White & White, Attorneys at Law 216 Phoenix Court Suite D Seymour, TN 37865 Toll Free: 888-551-9046 Phone: 865-622-7768 Fax: 865-577-1655 Seymour Law Office Map

How to know when you need a Qualified Domestic Relations Order | White & White, Attorneys at Law