Q: I was awarded, in a final divorce settlement part of my husbands 401K. How long should it take to receive the funds?
A: An award of a part of a spouse's 401K plan in a divorce case is transferred with a separate court order known as a Qualified Domestic Relations Order or QDRO. The award should also appear in the Final Decree. The QDRO must be signed by the judge and approved by the plan administrator. As QDRO requirements are technical, a spouse should consult with an experienced Virginia divorce lawyer for its preparation and submission.
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