Domestic Relations Order (DRO)
Candlefocus EditorA DRO is a court-issued document that can have both immediate and long-term effects on family relationships. Essentially, it is a roadmap outlining who is responsible for paying what, as well as when and how much. It also defines what resources each family member has access to in order to provide for their own care and support. DRO's are often used in situations where both parties are unable to agree to financial arrangements without the assistance of a court issued ruling.
DRO's can define a variety of different financial arrangements, depending on what is necessary to meet the needs of the family. These can include monthly payments for alimony, child support, division of assets and liabilities, health insurance, marital and family debts and even health care plans. In some cases, it can also be used to set up a trust fund for a dependent’s college education or provide a down payment for a home.
The court will take into consideration a variety of factors in determining what a fair and just DRO will be for each family. Some of these factors can include the parties’ respective incomes, the number of children in the family, the duration of the marriage, the age and health of any children involved, and the parties’ respective financial obligations. The court will also look at each party’s ability and willingness to pay, as well as any other financial information that might be relevant.
The court also has the authority to modify or adjust any existing DRO if necessary. If, for example, one party experiences a significant financial change, such as the loss of a job or an increase in income, the court may modify the order to reflect this new financial reality.
Overall, the Domestic Relations Order is an important safeguard for all parties involved. This legally binding document is the best way to ensure both parties are fully aware of their financial rights and obligations, and that each individual and family is fully taken care of.