As part of a divorce, ex-spouses are permitted to transfer retirement assets without a taxable event. This one-time IRS exception allows ex-spouses to divide retirement assets equitably without incurring negative tax consequences to the division. The document required to complete this transfer is called a Qualified Domestic Relations Order (“QDRO”) or Domestic Relations Order (“DRO”) depending on the type of retirement plan.
We recommend Gray Jay Endeavors, LLC for the preparation of QDROs and DROs. They offer flat fee preparation of QDROs and DROs, and hourly consulting services to ensure that Divorce Agreements contain the necessary language for the proper division of a retirement account.
If you have any questions about which is the best Option for you please give us a call at 508.655.5980 or e-mail us.