Hello,Sometimes there may be a delay in receiving a reply from me as I work on creating the best solution to the question you have presented.
I can not draft a QDRO for you but you can go to the webpage link below to see what QDROs should look like as you create your own. I realize the example is NY but the same provisions would be sufficient in CO. You would need to modify the QDRO for Jefferson County and party caption as well as your specific situation entitlements as you two have agreeded. Before I post the webpage link I also wanted to mention that once you have drafted the QDRO, you should send a copy to the plan adminstrator for your husband's company for review as there are times the plan has additional required language that MUST be included in the final order to be enforced.
Lastly, there are many lawyers as well as legal websites which can assist you in the incorporation process for a low fee. I suggest you just google/bing the phrase "companies help in creating corporation" and you will find many offering their services for a very low cost.
Here is the QDRO sample link:
Have a good day and I wish you the best,
I have to say that I have never heard that incorporation would be a requirement access a loan against any 401K or other retirement account. Access to the funds are normally limited to hardship situations but that has not impact on being or not being incorporated. I would strongly suggest that you ask the plan adminstrator directly if there is a reclusion for early access but for a corporate entity.
I hope this answer helps,
I'm sorry that you were not pleased with the additional statement but this falls into the category where sometimes as an attorney I must share information that a customer may not like to hear but it is still correct.
The processing of a QDRO to obtain a loan is not something I can do for you. You do truly need to reach out to the plan administrator because that is the only person who can assist you in the loan. QDROs are only court order that award you a legal interest in your spouse's retirement. The QDRO itself does not authorize a loan. Perhaps that is where the confusion exists. Without the QDRO the retirement plan can legally refuse to honor the divorce division of retirement payout to you.
I hope that clears any confusion but if you are still confused please let me know and I will make every attempt to rephrase my answer in a different way for you.
If you please reread my prior posts the information was explained, but perhaps there is a break down in communication so let me try it a different way for you.
In order to obtain a loan against the retirement of your husband you must first have a QDRO signed by the judge who presides over your divorce. Only after you have the signed QDRO can you apply for a loan against the retirement funds and that would be for hardship reasons as I mentioned in the prior posts.
When I referrenced not being able to do the paperwork for you, it was focused upon the actual loan processing requirements that you mentioned in your most recent post.
I'm confused when you say I never mentioned contacting the adminstrator before now, because I actually mentioned contacting the plan adminstrator several answers back in the one you accepted. So please reread the prior answers because I believe there may have been additional information you over looked just as missing my statement about the plan adminstrator in my original answer to you.
Regardless I am opting out of the communication so perhaps someone else can present the information to you in a way to is clearer for you.
Have a good day,
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).