401(k) And Retirement Assets Earned During Marriage Are Subject To Property Division
You have spent time planning and saving for the future. Your retirement funds play a central role in this plan.
In Massachusetts, any retirement funds gained or earned during your marriage are subject to division in divorce, regardless of whose name is on the account. Properly assessing and valuing all of your and your spouse’s retirement accounts is essential to obtaining a fair and equitable division in your divorce.
Attorney Leila J. Wons is a Westborough lawyer with experience dividing 401(k)s, pensions, annuities and other retirement assets in divorce. She understands the important role your retirement and savings will play in your future, and she can help you protect your interests when dividing assets in your divorce.
Determining Fair And Equitable Asset Division Is Essential
Retirement assets can be difficult to value, because they may not reach their full value until a later date. When determining a fair solution to the division of retirement funds, we work closely with our clients to perform a complete financial discovery.
We often work with accountants and financial experts in order to understand the present and future value of each retirement asset. In some circumstances, it may be beneficial to divide the asset during your divorce. In other situations, it may be more valuable to divide the assets at a later date. This can be done using a Qualified Domestic Relations Order (QDRO), which orders the retirement plan administrator to pay a certain amount to an ex-spouse.
At the Law Office of Leila J. Wons, P.C., we can assist you with the division of all types of retirement accounts, including:
- IRAs, including Roth IRAs
- Stocks and bonds
- Deferred compensation
- Savings accounts
Can You Help Me With Dividing Military Pensions And Benefits?
There are special rules and requirements for the division of military pensions. Attorney Leila Wons can help you through the complicated process of dividing a military pension and can also assist with military benefits issues for parents with children who are getting a divorce.