I Hate QDROs
The Judge awarded Amy Palmer $35,167 from her husband's 401K at Hewlett Packard. Amy, a now-single mother of three really needed the money, and she needed it quickly.
Amy's Dallas divorce lawyer waited for six months to send the 401K QDRO to HP for approval. (See our discussion of the QDRO Approval Process). He should have sent it the same day the QDRO was signed.
Surprise . . . Surprise . . . Surprise . . .
Imagine everyone's surprise when the Plan Administrator rejected the QDRO because there was no money in the account!
Amy's lawyer sent the QDRO to HP in six months.
Amy's ex-husband emptied the account much more quickly.
Do you have a retirement or QDRO problem? Contact us. Maybe we can help you like we helped Amy.