my attorney never did the paperwork for a QDRO approval with Fidelity Investments after my divorce. its been almost two years now. she kept saying she was working on it. I called Fidelity myself and found out she never did anything to start the process. Is there a statue of limitations that might cause me to loose my share of my spouse's pension and personal savings plan since so much time has passed?
State/Country relating to question: Indiana
Nothing yet. I just found out today. I'm devasted. Not sure where to even start?
ANSWER:No, there is no time limitation statute for getting the QDRO drafted and processed.HOWEVER, keep in mind that until and unless a QDRO has been submitted to the Plan, the participant's account (assuming this is a defined contribution plan, such as a 401(k) plan) remains unrestricted, meaning that your ex-spouse can withdraw funds, take a loan against the account, change beneficiary designations, etc.,, all without notice to you. In contrast, as a safeguard to prevent such an occurrence, the plan administrator will “freeze” the account upon receipt of a QDRO, pending implementation (division of the account) pursuant to the court’s order. Consequently, it is to your advantage have a QDRO drafted and submitted to the plan (or the plan's third-party processing agent) without undo delay.Experience (drafting and processing QDROs for 25+ years) leads me to believe that your attorney's delay is due to her inexperience and ignorance as to what needs to be done regarding QDRO drafting and processing and how to do it. This is a very common phenomena among family law lawyers. Indeed, the lawyer's failure to follow-through and get the needed QDRO drafted and processed (or to get somebody else to do it) is one of the highest causes for lawyer malpractice claims.Although I cannot undertake QDRO drafting in your case (I am not licensed to practice law in Indiana), I may nonetheless be able to give you some guidance and direction. But I first need to know the specific legal name of the Plan that is supposed to be divided. Suggest you hit Reply and give me the info. I will then look into the matter and get back in touch with a further Answer.For a lawyer who knows how to do QDROs, the process would not take two years, Most likely, not even two months. Frankly, if two years has elapsed and your lawyer has not completed QDRO drafting and processing, it is time to get a another Indiana lawyer involved so as to get the job done, and done right.More helpful info re QDROs:http://www.dol.gov/ebsa/faqs/faq_qdro.html http://www.dol.gov/ebsa/publications/qdros.html
30+ years family law experience. QDROs, UIFSA, UCCJEA expertise.
I have triedd to rate your information but I am unable to click on the link??
I would like to rate you as excellent!! I truely appreciated your advice.
Not sure what else to do, I tried several times.
Dear JA customer: JustAnswer.com is presently experimenting with various rating methods. I note that my answer to your question was "ACCEPTED," and that is sufficient so far as I am concerned. No need for you to do anything further. I thank you, XXXXX XXXXX your good intentions. Next time you post a legal question on JA, preface the question with "FOR MR. GORIN," and it will be brought to my attention.LDGLawrence D. Gorin41094.1274969097
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).