Do Not Let Divorce Ruin Your Retirement Plan
During a marriage, it is likely that one or both of the spouses has accumulated investment assets to help cover retirement. These investments are meant to provide financial stability for both people. During divorce, these investments must be divided appropriately between the spouses. In many cases, a 401(k) or other retirement asset is the largest, or second largest, asset of the marriage.
At Thomas & Thomas Attorneys At Law, we have worked with the property division laws in Pennsylvania since 1987. We understand what it takes to identify and divide retirement assets fairly and while preserving financial stability for the parties involved.
Dividing Retirement Assets And Other Employment-Related Benefits
Many people have invested in numerous retirement and other employment-related benefits, including:
- Savings plans
- Stock options
Some portion of these assets may have been acquired prior to marriage, which would not be divisible during the divorce. However, the portion acquired during the marriage is a marital asset and is subject to property division claims by the other party.
As your dedicated legal advocates, we will first determine what retirement exists and which portions are defined as marital. Then we will work to ensure the division of these marital assets is handled fairly.
We Know Qualified Domestic Relations Orders
One complexity involved in the division of retirement assets is the potential necessity to prepare a qualified domestic relations order (QDRO) so that some of the retirement benefits can be distributed. If a QDRO is done properly, neither party will incur penalties or taxes on the distribution. We have worked extensively with these over the years and can ensure your portion is protected.
Our Lehigh Valley Lawyers Help You Divide 401(k) Investments
When you need help identifying investments for a comprehensive division of retirement assets, reach out to the experienced property division attorneys at our law firm. Contact Thomas & Thomas Attorneys At Law at 610-559-9271 to schedule your case evaluation or initial consultation today or free consultation.