Delaware, Ohio Retirement Assets Attorneys
While divorce is usually an emotional event, there are still many practical issues to take care of. It’s important not to overlook getting a fair share of retirement assets. It’s just as important to realize that these funds are not automatically split in a divorce. A written agreement or divorce court judge divides the retirement assets. Knowing how to protect yourself from losing these assets is the difference between living a comfortable retirement and teetering on the edge of financial disaster once you reach retirement. It’s best to know as much as you can about your spouse’s retirement benefits during the marriage. Then, make sure to hire a Delaware OH divorce attorney at the Lawrence Law Office to protect your right to those benefits.
Retirement benefits come from a variety of employer-provided plans, included 403b plans, 401k plans, pension plans and deferred compensation plans. Keep in mind that your spouse may have IRA or 401k assets hanging around with previous employers if they have changed jobs during the marriage. Even if a couple agree to divorce through mediation, it’s always wise to hire Delaware OH divorce attorney to advise you along the way. If you don’t, it’s likely to cost you more in the long run if you make uninformed decisions. At the Ohio Family Law Office of Lawrence, we work closely with our clients to give them the best advice. Divorce is one of our practice areas, and we have a lot of experience when it comes to securing retirement benefits.
Work with Experts That Provide Sound Advice You Need
Retirement assets are some of the most difficult to divide in a divorce. Unlike other marital assets, such as a home or a vehicle, they also require additional steps, such as securing a QDRO. The assets must also be classified as either separate or marital. This is much more difficult than dividing other assets. One spouse may have brought a retirement account into the marriage with them, meaning some of the funds are separate while others will be considered marital. Retirement assets also come with some tax consequences and early withdrawal penalties. If not handled properly, the assets may not be fairly divided, and you may not receive the fair settlement you deserve.
It is for these reasons that you need to not only work with a skilled Delaware family lawyer, but also other experts, including a financial planner or a CPA. These professionals can advise on how to best handle your retirement assets in a divorce, and how to avoid harsh penalties or taxes. A financial planner or CPA may not only advise on your retirement assets but also other aspects of your divorce as well, such as if you own a business or one spouse requires financial support during or after the divorce.
Working with a financial planner and other experts is important, but it is not always easy. As you move through the divorce process, you likely want your case finalized as quickly as possible. You do not want to wait around to hear back from a professional and set up a meeting before you can even start discussing your case. When you work with Lawrence Law Office, you will work with skilled attorneys that already have an extensive network of experts in place that can provide the advice you need, when you need it. Attorney Linda Lawrence has developed a vast network of experts she relies on regularly, and that can provide the support you need during your divorce, too.
Other Delaware Practice Areas
Family Law | Paternity | Prenuptial Agreements | Stepparent Adoption | Adoption | Grandparent Visitation Rights | Mediation | Divorce | Spousal Support | Equitable Distribution | Military Divorces | Social Media in Divorce | Dissolution | Contempt & Enforcement | Post Divorce | Relocation | Business Owner Divorces | Tax Issues | Child Custody | Grandparents Rights | Same-Sex Couple Child Custody | High Asset Divorces | Equitable Distribution | Retirement Assets | Estate Planning