A qualified domestic relations order, or QDRO, is a legal document that is typically used in conjunction with a divorce decree in order to divide retirement assets between spouses. In the state of Illinois, there are specific rules that must be followed in order for a QDRO to be valid.
If you are going through a divorce and you have retirement assets, it is important to understand the role of a QDRO in dividing those assets. An experienced Illinois divorce attorney can help you ensure that your QDRO is properly drafted and filed so that your interests are protected.
Retirement Assets in a Divorce
When most people think about dividing property in a divorce, they think about vehicles, real estate, and household items such as furniture. However, retirement accounts must also be dealt with during divorce. In Illinois, retirement assets acquired during the marriage are considered to be marital property and are subject to equitable distribution. Retirement funds that a spouse already acquired before getting married are usually considered non-marital assets. Consequently, retirement assets may be considered partly marital and partly non-marital during a divorce.
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