Going through a divorce can be a difficult and overwhelming process. There are often many legal terms and concepts that are new to both parties, one example being QDRO. This article will explore what a QDRO is and how it relates to a divorce in South Dakota.
What Is A QDRO?
A QDRO stands for "qualified domestic relations order." It is a legal document that divides retirement assets between divorcing spouses. The order must be approved and signed by the court, as well as the administrator of the retirement plan.
Why Is A QDRO Needed?
Without a QDRO, a spouse would not be able to legally receive a portion of their ex-spouse’s retirement benefits. Retirement plans are typically considered to be marital property, and therefore subject to division during a divorce. However, just because a divorce decree outlines how retirement benefits should be divided, it doesn’t mean that it is legally enforceable.
How Does A QDRO Relate To A South Dakota Divorce?
In South Dakota, retirement benefits are marital property and subject to division during a divorce. Therefore, if a couple has retirement accounts that need to be divided, a QDRO will likely be necessary. It is important to note that South Dakota has specific laws and regulations surrounding QDROs, so it is important to work with an experienced divorce attorney who is familiar with these laws.
Who Should Draft A QDRO?
A QDRO should be drafted by an experienced family law attorney and approved by the court. It is important to have an attorney who understands the specific laws and requirements for QDROs in South Dakota, as mistakes can be costly and may delay the division of assets. Additionally, it is important to work with an attorney who understands the specific details of the retirement plans being divided.
Conclusion
While a QDRO may seem like just another legal term to add to an already long list, it is an important part of dividing marital property during a divorce. It is important to work with an experienced family law attorney in South Dakota to ensure that the QDRO is properly drafted, approved, and enforced. With the assistance of an attorney, this process can be made smoother and easier to understand.