WFA has assisted in drafting thousands of QDROs for hundreds of different retirement plans across the country. With our knowledge and understanding of the statutes that govern QDROs, we have gained significant experience in negotiating with plan administrators. We can assist family law and general practice attorneys in QDRO preparation with the least amount of delay and confusion over misunderstood issues and plan options applicable to the parties.
WFA will facilitate the drafting of a proposed QDRO for preliminary approval by the plan administrator. Furthermore, WFA will handle all negotiations with the plan administrator or the plan’s legal counsel, which are often difficult and time consuming. QDRO assistance provided by WFA ensures that the best interests of both parties are considered.
Upon obtaining a preliminary approval from both the plan administrator and the attorney client, the final QDRO document is delivered to the attorney client with instructions to have the order signed by the opposing counsel and/or parties, entered by the court and served on the Plan. Upon receipt of the court certified copy of the QDRO, the plan administrator will notify both parties in writing regarding the awarded benefits, instructions, options and tax consequences.
Hundreds of family law and general practice attorneys rely on the services of WFA Econometrics to assist them with QDRO preparation. Professional assistance reduces the amount of time for QDRO completion, consequently reducing costs to the divorcing parties. Due to our knowledge and experience, professional assistance in QDRO preparation will ultimately reduce the liability incurred by the attorney.
To assist an attorney with the preparation of a QDRO, WFA Econometrics will require a copy of the Judgment of Divorce including the relevant portion of the Marital Settlement Agreement or Stipulation. Also required is a copy of the plan document or Summary Plan Description and any other information pertaining to the plan. The fees for assistance in QDRO preparation vary with the type of plan being divided and are required in advance of services rendered. Please consult the fee schedule or contact the WFA office for current fees.