Contact An Attorney Today

Houston's Service-Focused, General Practice Law Firm

Do you need help with family law and intricacies such as QDROs?

Texas couples who file for divorce have so much to consider that some important matters may be left unattended. Family law issues such as child custody, parenting plans and the division of property can be overwhelming. Without qualified professional guidance, matters related to the division of retirement funds sometimes receive less than the necessary attention.

First of all, a QDRO must be signed. This is a Qualified Domestic Relations Order, which will determine the distribution of retirement assets between the spouses. Once couples agree to it, the court will issue an order that will be binding. So, to ensure no unexpected fees and taxes reduce one spouse's portion of the retirement assets, it helps to have a financial advisor along with an experienced lawyer on the team.

In a community property state like Texas, retirement assets will likely be split equally -- except if the judge decides otherwise. However, without specialized knowledge, one party may be satisfied with his or her share, only to find it considerably less after paying a 10 percent penalty for withdrawing funds before the age of 59 ½. He or she might not be aware of the provision available to distribute 401(k) funds to a spouse with no penalties. However, this is a one-time provision that must occur during the divorce.

The intricacies of family law in Texas can be simplified by building a strong support team. An experienced divorce lawyer will likely have professional resources to assist with matters related to finances, taxes, real estate, child issues and more. Together, they can provide the necessary guidance and support to help a divorcing spouse to enter a financially stable new chapter in life after divorce.

Source: kiplinger.com, "QDRO: Critical Letters in a Divorce Case", Andrew Mcnair, Accessed on April 14, 2017

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm In Houston, Texas.Arrange your free initial consultation by phone or email.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Review Us

Office Location:

The Bayley Law Firm
2020 Southwest Freeway
Suite 100
Houston, TX 77098

Phone: 713-383-8887
Fax: 832-415-0385
Map & Directions

Phone Number:

Avvo - Rate your Lawyer. Get Free Legal Advice.