Qualified Domestic Relations Order (QDRO)
California QDRO Divorce Lawyer
Modesto Qualified Domestic Relations Order Divorce Attorney
California has extensive pension plans for its public employees that are known as CalPERS (California State Personnel Retirement Systems) and the CalSTRS (California State Teachers Retirement Systems). If you are seeking a divorce and you have a California benefits plan or your spouse has one, this pension plan must be taken into account in the division of property settlement of a divorce agreement.
Call (209) 214-6600 to arrange a free fifteen-minute initial consultation with a lawyer experienced in handling QDROs and property division. Contact Thomas P. Hogan online.
Limit Access to the Pension Plan by Filing QDRO
The QDRO establishes your spouse’s rights to receive a portion of your plan’s benefits based on a number of factors. Thomas Hogan can calculate this for you.
If you do not file a QDRO with your divorce agreement, then you are responsible for paying the taxable distribution that you may incur for money from a state pension plan that goes to your ex-spouse. You may also be penalized with a 10 percent penalty for withdrawing early — even if it is your former spouse that does the withdrawing — if you are under the retirement age of 59 1/2.
As a former CPA, Thomas Hogan will analyze your finances and determine the best way to divide your property. With regard to the QDRO, he will file a:
* Joinder, which adds the plan to the divorce
* Valuation from the entity as to what is the spouse’s interest in the plan, from date of marriage to date of separation. Our office will provide an actuarial calculation of the vested retirement interest relative to the other spouse member.
Establish Your Rights to a Portion of the Retirement Plan
If you are divorcing a spouse who has a membership in one of California’s public service plans, it is important to establish your interests in that retirement plan. The QDRO allows you access to the government retirement plan.
It does not make sense for you to allow your spouse to buy you out, as these plans will continue to grow financially as you age.
The Thomas Hogan Law Office, Attorney at Law | Protect Your Rights | Maximize Your Financial Interests | Minimize Your Stress
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