Division Of Pensions And Retirement Income
Depending on age, stage in life or personality, the thought that someone gives to their retirement account can vary from person to person. For some, it is a “behind the scenes” issue that is not given much daily thought. For others, it may involve watching an account like a hawk and scrutinizing monthly statements.
At the end of the day, however, each person is keenly aware of the importance of his or her pension or retirement account. As someone who is going through a divorce, you are now very tuned in to exactly how your money will be divided between you and the other party. The law office of Alan J. Pransky in Dedham, Massachusetts, is here to help walk you through the equitable distribution of your retirement fund. Call us for a free consultation with an attorney: 781-613-8809.
When Were Your Retirement Assets Acquired?
Was your pension or your retirement fund acquired before the marriage began or during the marriage?
Typically, retirement assets that were acquired before the marriage may be considered separate property and not considered in the divorce. Retirement assets that were acquired throughout the course of the marriage are usually treated as a marital asset and subject to equitable distribution. However, it is important to keep in mind that an experienced divorce lawyer may have methods for deviating from the guidelines. Retirement funds may require a Qualified Domestic Relations Order (QDRO), which is prepared by consulting each party as well as the retirement plan administrator.
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