Division of Retirement Accounts
The ability to live comfortably through our retirement years is a goal that many of us work toward from the first day we start our careers. We put money away, invest it and stop ourselves from spending it all now. Faced with the prospect of divorce, we are left to wonder what will happen to the assets we worked so hard to accumulate.
The attorneys of Graziano & Flynn, P.C., can help you gain some peace of mind. We regularly deal with retirement accounts during the New Jersey divorce process, helping our clients protect their financial futures to the greatest extent possible. Whether you have a modest portfolio or you have a large amount of assets, you can rely on us for honest advice and a realistic assessment of the likely outcomes.
Like all other types of property, retirement accounts must be accounted for and an agreement on their division must be reached. Importantly, retirement savings you accumulated before getting married are not subject to division. What you saved during the marriage will be divided under the rules of equitable distribution.A Comprehensive Approach to Retirement Assets
With 80 years of combined experience, our Cherry Hill divorce attorneys have access to a reliable network of financial experts and tax professionals who assist us in valuing and dividing all types of retirement assets such as:
- 401(k) Plans
- IRAs (Both Traditional and Roth)
- Corporate and Public Pensions
- Deferred Compensation Plans
- Thrift Savings Plans
- Other Defined Benefit and Defined Contribution Plans
- Qualified Domestic Relations Orders
Many retirement plans require that a Qualified Domestic Relations Orders (QDRO) be filed before the plan administrator will disburse funds. QDROs are highly technical in nature and can have a very large impact on any divorce. An incorrect or missing QDRO can result in heavy tax penalties and an overall reduction in the value of the marital estate. Because we have extensive experience in complex property division, we are able to handle these documents for clients, often with the assistance of professionals who specialize in QDROs.Contact a Burlington County Divorce Lawyer
Whether you are in Camden County, Gloucester County, Burlington County or elsewhere in New Jersey, Graziano & Flynn, P.C., can help resolve your asset division issues. We can be reached at 856-499-4351 or toll free 866-948-7568. You can also send us an email and we will respond promptly.