Often in a divorce proceeding part of the Settlement reached in the Final Judgment is to award partial or sometimes even the entire amount of a retirement account to the other party. This cannot be performed without a Qualified Domestic Relations Order (QDRO).
There are many types of Retirement Accounts which is what determines the type of QDRO that must be prepared, approved by the Court as well as by the Retirement Agency before funds can be transferred.
Some Retirement Accounts also require certain types of accounts to be opened in order to complete the transfer.
Consult with an Experienced Lawyer
In the Florida Panhandle area, including Pensacola, Milton and Gulf Breeze, call the Byrom Law Firm at 850-898-0340 or contact us online.