Nearing the end

[kolabok]

What is the name of your state (VA)?

A divorce case was granted divorce, but the remaining QDRO is in stasis for several years now between the partners in the former marriage. They now consider going at it alone without legal representation to finalize the terms of the QDRO, by filing a motion with the court to submit an agreement between the parties to finalize the QDRO.

1. Can the parties involve, amend the QDRO to reflect the present financial declarations of each by their own representation and without legal representation for due process of the law, in this case family law? And doing so, by filing a motion to bring to closure the QDRO

2. This amendment, the final drafted QDRO between the parties and agreed upon and drafted by either or party of the former marriage and presented to the court, is sufficient for the court to accept?

3. In filing a motion to amend, both parties are required to be present or will a sworn affidavit by either suffice to being represented in the court equally?

The background may or not be relevant (in my understanding since I am not represented) and the other party may or may not be represented by council. My financial picture was invoked by the court system to justify the QDRO as is common practice divorce laws. In the present reality, neither party wants anymore financial assistance from divorce lawyers since it was a battle of language between the former lawyers to get the language satisfied to the request of the retirement administrator and the other side quit pursing it.
The bottom line is to get this on the books so that this business is done between the parties concerned.

thanks

 

[HRZ]

The posts you may find suggest that QDROS are not easy for the laymen to sort out and a poor place for DIY projects That said is the QDRO intended to pay you or you to pay the EX?

 

[kolabok]

The posts you may find suggest that QDROS are not easy for the laymen to sort out and a poor place for DIY projects That said is the QDRO intended to pay you or you to pay the EX?

I pay out 32 percent of X # of years married while with same employer, (this is a payout from the employer, an annuity paid out with taxes taken out. 32% is the correct amount owed to the other party). The deferred comp plan is also 32 % of that amount, paid out.
There are two different sources of money with the latter being tied up with the QDRO holding the comp plan in limbo, while the employers retirement doesn't .

You say difficult, and it is for laymen, but if two parties are in agreement and the proper documents are submitted, why not? Do we have to be lawyers to do anything concerning an binding agreement if both parties consent?
I know there are a lot of hoops and hurdles to go thru and being well informed of the process and how to do are fruits of going to law school, but it is simple and not a high profile type of divorce we are accustomed to hearing and seeing.

What posts to digest for tips ?

 

[LdiJ]

I pay out 32 percent of X # of years married while with same employer, (this is a payout from the employer, an annuity paid out with taxes taken out. 32% is the correct amount owed to the other party). The deferred comp plan is also 32 % of that amount, paid out.
There are two different sources of money with the latter being tied up with the QDRO holding the comp plan in limbo, while the employers retirement doesn't .

You say difficult, and it is for laymen, but if two parties are in agreement and the proper documents are submitted, why not? Do we have to be lawyers to do anything concerning an binding agreement if both parties consent?
I know there are a lot of hoops and hurdles to go thru and being well informed of the process and how to do are fruits of going to law school, but it is simple and not a high profile type of divorce we are accustomed to hearing and seeing.

What posts to digest for tips ?

It will work better if the two of you do all the calculations yourselves and specify an exact amount rather than the administrator of the plan having to do the calculations based on some formula that you have devised.

Also, the money should be split into two separate retirement accounts with the receiving party deciding whether to roll the money into an IRA or take an actual distribution.

 

[HRZ]

and you covered the situation of whomever dies when /if whatever ...it's easy until facts change ...

There are services out there that specialize in ready to go ready for order entry QDROs for very modest fees...consider one.

 

[HighwayMan]

The background may or not be relevant (in my understanding since I am not represented) and the other party may or may not be represented by council.

If your spouse is represented by counsel you are a fool for doing this pro se. This is definitely not a do-it-yourself matter.

 

[kolabok]

It will work better if the two of you do all the calculations yourselves and specify an exact amount rather than the administrator of the plan having to do the calculations based on some formula that you have devised.

Also, the money should be split into two separate retirement accounts with the receiving party deciding whether to roll the money into an IRA or take an actual distribution.

The math is straight forward in that the years worked total minus the years of marriage, which roughly equals 32%. Given an exact number of years married based on the valve of the annuity during this time of investment and the years worked before and beyond this marriage, is 31.234%

There is no retirement accounts to put money aside, it is a cash payout equivalent to percentage given to X. Last time I checked, no one turns away cash or a bank note

 

[kolabok]

and you covered the situation of whomever dies when /if whatever ...it's easy until facts change ...

There are services out there that specialize in ready to go ready for order entry QDROs for very modest fees...consider one.

I certainly have looked into all possibilities, other than hiring a lawyer to pass out a check to X. I can do that for free

 

[Zigner]

There is no retirement accounts to put money aside, it is a cash payout equivalent to percentage given to X. Last time I checked, no one turns away cash or a bank note

This is a GREAT example of why you need an attorney.

ETA: If there are no retirement accounts in play, then why do you feel a QDRO is necessary?

 

[kolabok]

If your spouse is represented by counsel you are a fool for doing this pro se. This is definitely not a do-it-yourself matter.

I am no longer employed by former employer of whom my retirement was established with. In VA there is no rule forbidding an employer from cashing out a former employee who has not reached retirement age and the 401 K or the deferred comp plan can be put on lookdown. I don't why that is other than one is a employee/employer based pension plan and the other is funds.

The problem with this whole scenario is the X's lawyer was suppose to cross the T's and dot the I's to the satisfaction of the retirement administrator and county's attorney blessing, on my behalf since I was employed. Now that I am no longer employed, I no longer have this free legal service.
The X's attorney had plenty of time to get this done of behalf of his client, my X.

Now, I, in agreement with the X, want to move this thing to the finish line ourselves, by filing a motion to amend the QDRO language with new language, basically a one time payout agreed upon by the parties.

Between the X and myself. enough money was shoveled out to pay for this ridiculous salary for divorce attorneys and nothing got done. Why throw good money away over bad money?

I was looking for some tips on document formation and what clerk forms other than filing q motion with the clerk of the court to amend and finalize a QDRO

 

[Zigner]

I was looking for some tips on document formation and what clerk forms other than filing q motion with the clerk of the court to amend and finalize a QDRO

What you are asking for is beyond the scope of this forum. You would be wise to seek local counsel.

 

[HRZ]

IF you do nothing and X sits on her fanny SHE may lose ..

IF you two agree on some lump sum payout ...and I suggest you do the math with care and be sure to think thru tax effects...well so be it .... And think younwould be far smarter to use a specialized legal pro...the $ fees I see on line look darn reasonable for getting it right. ...and get it blessed in order form .

Your X is unwise ...if you spend away your retirement and die she may find things impossible to reconstruct and collect.

 

[LdiJ]

IF you do nothing and X sits on her fanny SHE may lose ..

IF you two agree on some lump sum payout ...and I suggest you do the math with care and be sure to think thru tax effects...well so be it .... And think younwould be far smarter to use a specialized legal pro...the $ fees I see on line look darn reasonable for getting it right. ...and get it blessed in order form .

Your X is unwise ...if you spend away your retirement and die she may find things impossible to reconstruct and collect.

If its done right then nobody is responsible for taxes other than if they decide to cash out some or all of THEIR share...and they will only be responsible for taxes on their share. Therefore its not necessary to think through tax effects, its simply necessary to divide the account into two separate accounts and then each one goes from there.

 

[Zigner]

If its done right ...

Which is precisely why the OP should at least consult with a pro.

(Just using your post as an illustration - there's nothing wrong with what you said )

 

[LdiJ]

Which is precisely why the OP should at least consult with a pro.

(Just using your post as an illustration - there's nothing wrong with what you said )

The whole issue is quite a pet peeve of mine right now. I am watching huge numbers of taxpayers wasting massive amounts of retirement dollars on taxes when there is simply no need at all to do so...and mostly because they get stupid advice from attorneys or they have lost a job/are getting divorced and need SOME money, but certainly not their whole retirement account/their half of the retirement account.

My advice to people in those situations will forever be to roll over the money into an IRA, and then take out ONLY what you need when you actually need it. Therefore only paying tax on it in the year you actually take it out.

Heck, even those who really need all of it in the near future would be better off (at this time of year) to take half of it now and half of it after December 31st.