Retirement Assets

Serving the greater Columbus, Franklin county and Central Ohio areas.

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Delaware, Ohio Retirement Assets Attorneys

Retirement Assets specialists with over 59 years of experience.

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.

elderly couple talking about divorceAt the Lawrence Law Office, we take a pro-active and preventive approach to retirement benefits. We recommend couples to secure a qualified domestic relations order (QDRO) before a completing the final divorce agreement. This is a court order that we can write. It orders the retirement plan to pay a specified share of retirement benefits based on the divorce agreement. If you don’t get a signed QDRO, you may wind up not getting what the divorce decree stated because the documentation wasn’t handled properly.

Retirement benefits may be paid as a single lump sum, monthly pension or some other form. If your spouse dies before you are paid, you may lose benefits if the QDRO doesn’t provide some type of survivor protection. We’re the Ohio Family Law firm that can let you know if the QDRO should provide survivor death benefits.

Without a doubt, divorce is hard. It’s smart to educate yourself ahead of time about your rights to retirement benefits in a divorce. At the Lawrence Law Office, we are always happy to answer any questions. We’ll take all the legal steps needed to best protect your rights.

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Client Reviews

Had free consultation. Advice given was taken, and resulted in change of mind in the other/opposing party. We therefore did not need to retain. Should opposing party resume original opinion, we will retain.

Kit

I was in a terrible custody dispute with my ex. I was very upset and afraid of my ex. Rodd listened to everything I said and remembered everything I said. He was aggressive in court and used the information I gave him very well. We won the case and my ex has backed off.

anonymous

I wanted an easy divorce from my wife. She wanted a fight. Rodd and I discussed fair terms for a dissolution. Because he was pro active and stayed on top of the case, my wife and I finally reached an agreement and had a dissolution. I highly recommend Rodd.

anonymous

I hired Linda Lawrence because I have a business and I wanted to protect it in my divorce. Linda is top notch and knows about business finance and assets. I was able to keep my business and not have to pay my wife anything from it. Hire her.

Linda

I hired Linda Lawrence because I needed an aggressive attorney. Linda was able to stand up against the other attorney and was very aggressive in court. It was an expensive divorce case, but that was because the other attorney was very aggressive and Linda was very thorough. I had great results in my case and highly recommend Linda.

Joy
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Business owner
divorce

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Child Custody

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High Asset
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