What is a ‘QUADRO’?
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What is a ‘QUADRO’?
I’m getting divorced and want a share of my husband’s pension.
Asked on October 22, 2017 under Family Law, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
A QUARDO stands for a qualified domestic relations order that is issued by a court subsequent to a divorce (or legal separation). It allows an alternate payee, typically a spouse, to collect money from a retirement account for needed spousal support. In some states, a retirement account may also be considered community property that must be divided upon divorce. Basically, it changes the ownership of a retirement plan to give a spouse their share of the other spouse's asset.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
A QUARDO stands for a qualified domestic relations order that is issued by a court subsequent to a divorce (or legal separation). It allows an alternate payee, typically a spouse, to collect money from a retirement account for needed spousal support. In some states, a retirement account may also be considered community property that must be divided upon divorce. Basically, it changes the ownership of a retirement plan to give a spouse their share of the other spouse's asset.
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