Introducing The Gibson & Perkins, PC QDRO Preparation Service
I am writing to you to bring our Qualified Domestic Relations Order (“QDRO”) preparation service to your attention. In a divorce, a QDRO is essential for your clients to obtain fair compensation from their ex-spouse. A QDRO gives one spouse the right to share in the qualified pension benefits of the other and ensures that the spouse who receives the benefits is the one responsible for the tax.
While a QDRO isn’t needed to split up an IRA, special care must be taken to avoid unfavorable tax consequences. Without a QDRO, the spouse who earned the benefits will still be taxed on them — even though they are paid out to the other spouse.
Preparing a QDRO involves an evaluation of the plan and an analysis of the potential tax treatment of a distribution from the particular plan. Implicit in competent QDRO preparation, is knowing the difference between qualified retirement plans covered by ERISA which are subject to division and non-qualified plans which will not accept a QDRO.
In preparing a QDRO, some family law practitioners find themselves in an area of the law in which they have little or no experience. QDRO preparation is time consuming, costly, and risky for some family law practitioners.
Recently, a Delaware attorney was suspended from the practice of law for six (6) months and publicly reprimanded in part for failing to timely prepare and complete a QDRO. For these reasons, many family law practitioners seek outside counsel to assist in QDRO preparation.
Consider Gibson&Perkins, PC for you and your client’s QDRO preparation needs. We have five attorneys with LLMs in Tax and possess a thorough knowledge of all benefit plans. We are an estate planning and tax firm, providing counsel to clients on many tax issues affecting individuals and their deferred compensation plans.
Divorce is a key to time revise one’s estate plan and financial documents, thus your client will have the full complement of our estate planning experience at a time when they desperately need it.
Very Truly Yours,
GIBSON & PERKINS, PC
RICHARD M. WELSH, ESQUIRE
 In the Matter of a Member of the Bar of the Supreme Court of Delaware, Board Case No. 2011-0165B.