Division Of Retirement Accounts

People are often surprised to learn that retirement accounts are subject to property division during a divorce. You may have opened the account prior to getting married, which means at least a portion of the account is separate property protected from division. However, if you contributed to the account and it grew while you are married, a portion of it is community property. The same rules apply to your spouse's retirement account.

Considering how complex this aspect of the division of property can be, it is worthwhile to choose an attorney experienced in these matters. At The Law Office of Natalie Gregg in Allen, Texas, we have been recognized for our ability to handle 401(k)s, IRAs, pensions and other types of retirement accounts. Our team can help you prevent tax consequences from the division of retirement assets. We take great care in pursuing an outcome that will leave you financially secure, not just in the short term, but for the many years to come.

QDROs And Beyond

Retirement funds are unique assets, so it should come as no surprise that they must be divided in a different manner than other assets. Depending on the type of account, it may be necessary to create a specific document to facilitate the division. For example, 401(k)s and some other accounts require the creation of a qualified domestic relations order (QDRO). The QDRO must be carefully crafted to ensure the funds from the account are properly allocated.

Talk To A Lawyer About Retirement Fund Division

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