What is the name of your state (only U.S. law)? I am wondering how to ask for a cash settlement out of the annuity. more on the words i should use. i have 50% available. the representative sent me a sample form but it is hard to understand. Just want the main stipulations.
I will give you a general bit of information. The way (in general) that QDROs work is that the QDRO divides the fund into two separate funds, one in your name and one in the other party's name.
Then if you want to cash out YOUR fund, then you simply cash it out (by whatever rules the holder of the fund puts in place) and you also are responsible for any tax ramifications that arise from you cashing out your fund.
You need to talk to the fund holder (the company) if you do not understand their forms, and you need to talk to a tax professional to understand what possible tax ramifications might arise from cashing out the fund.
If the QDRO hasn't even been written yet, then follow Misto's advice and see an attorney.
