Is A QDRO Required For Me To Receive My Cash Distribution Award From My Former Spouse's IRA Account?
Posted on Apr 11, 2013 11:55am PDT
Q. Nick from NJ asks: "Is a QDRO required for me to receive my distribution cash award from
my former spouse's IRA account?"
A. Evan, from Pension Evaluators & QDROS Of Troyan, Inc Associates Group answers: " In order for an alternate payee to be awarded a specified lump
sum dollar amount or a percentage of the relinquishing spouse's IRA,
an Order will be required; however, it would not be a QDRO. This Order
would be considered an IRA Split Order. Each IRA Brokerage House will
have separate transfer forms in addition to Troyan's drafted IRA Split
Order. Here at Pension Evaluators® at Troyan®, we have established numerous contacts within the different Brokerage
Houses. We are aware through our Plan Administrator database of certain
institutions that will require a newly created account in the name of
the receiving account holder within the Brokerage House, or if the Alternate
Payee may be permitted to rollout the monies into an outside account.
Pension Evaluators & QDROS Of Troyan, Inc Associates Group has extensive
experience in drafting IRA Split Orders. Please visit our website and
download the IRA Order form to proceed. If you have any questions feel
free to contact the Office."
Evan Landau,
Lead QDRO Consultant
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