Property division is one of the most complex issues involved in divorce proceedings. Often retirement accounts, especially those which are involuntary or directly deducted from your paycheck, will be your most substantial marital asset (other than your marital home). Trying to determine the value of these retirement assets, and how best to keep them yours, are difficult questions. The attorneys at Percy Law Group, PC, are committed to helping our clients get the best possible property divisions and property settlements. Call (508) 718-2545 to schedule an initial consultation or complete our online contact form. We fight for you, and we won't stop fighting for you until we get the justice you deserve. That is our promise.
Any money that accrues to your retirement fund or investment portfolio over the course of your marriage is subject to the division of marital property upon divorce. Retirement accounts which will generally be divided in a divorce include traditional pensions (including military and law enforcement pensions), IRAs, Keoghs, Employee Stock Option Plans (ESOPS), defined benefit plans, deferred compensation plans, and 401(k) plans. There are certain benefits which are not considered marital property. These include railroad retirement benefits, social security benefits, disability compensation and, in some states, teachers' pension funds. If you are contemplating divorce or are currently in the process of getting one, it's important to understand the financial consequences involved and the legal options available to you. Our attorneys explore various means for protecting more of our client's assets and retirement funds, subject to the final terms of a divorce settlement. Even though every divorce is different, negotiation affords parties the opportunity to arrive at terms they find mutually agreeable -- rather than have a judge impose terms on them. As your hard working advocates, we can propose settlement terms that may allow you to protect all or most of your retirement and investment assets from the division of marital property. While the final terms will depend on what your ex-spouse agrees to, as an experienced negotiator and family law attorney, we understand what financial issues to emphasize and what can be done to exempt retirement assets from division.
Divorcing spouses should be careful when considering the division of retirement benefits. They are inherently different than other liquid or semi-liquid marital assets because of their purpose and difficult administrative rules. So, it is easiest, when possible, to compare apples to apples - retirement funds to retirement funds. Where there are not equal or substantially equal retirement funds to compare and divide, don't forget the tax and penalty implications when considering your property settlement.
We are here to help. We understand the difficult position you're in and your need for help. Our attorneys and staff are friendly, helpful and happy to answer any questions or concerns that you have throughout the process. We will always keep you informed about the progress of your case and explain your options in clear terms. Decisions will be yours. We are easy to reach and work with your bests interests in mind. We have the experience, and would be pleased to consult with you when you are choosing who will represent you. We offer compassion and support while aggressively pursuing justice. Speak with our knowledgeable attorneys at Percy Law Group, PC. Call (508) 718-2545 to schedule an initial consultation!
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