The Financial Knot is now facilitating QDROs!
The Qualified Domestic Relations Order (QDRO) is prepared when couples are splitting retirement assets not in an IRA, such as pensions and 401(k) accounts. This process can typically take several weeks to months. The Financial Knot works with individuals and couples through the divorce process and has the needed documents to process the QDRO much quicker than traditional providers; we will obtain these documents during the discovery phase of divorce. In addition, we offer a very competitive rate of only $750.
Every plan has its own QDRO requirements. It’s important that when you have a QDRO form prepared, it is sent to the plan for pre-approval to ensure that it meets all of the requirements BEFORE it’s sent to the judge or you risk having it rejected by the plan and having to start over with more expenses.
A good QDRO provider will be sure you understand the various options available for each party regarding survivor benefits, lump sum options, etc. At The Financial Knot, we use the finer details of these options in negotiations of clients’ marital settlement agreements during the divorce process; so that they are 100% sure of what’s really going to happen in their future when they claim these benefits. We understand all of the intricacies of a client’s negotiation BEFORE they agree to a settlement involving a QDRO and will advise the client and attorney accordingly. Because of this, we know exactly how to prepare their QDRO(s) when the time comes.