Divorce And Retirement Savings

For many divorcing couples in Georgia, retirement savings and benefits can be a common source of disagreement. Retirement plans, including 401(k)s, IRAs, and others, are often the largest or second largest marital asset. And now that you are divorcing, a retirement plan may be thrown into doubt.

The experienced Woodstock, Georgia, divorce lawyers at the Law Offices of James O. Bass, P.C., safeguard your interests from the start to finish of the legal process. We customize our representation to fit your specific situation and goals.

Retirement savings are not necessarily transferred to the spouse who contributed paycheck deductions. If there is a conspicuous income difference between spouses, the court might award a greater share of retirement assets to the lesser earning spouse. Retirement savings can also be something to be negotiated in a property settlement, traded for other assets, such as real estate or closely held family business valuation, or substituted in lieu of spousal support.

Dividing Retirement Plans

The increase in value of retirement savings during a marriage is subject to asset division. For example, if a spouse contributed to a 401(k) during 20 years of marriage, the other spouse is entitled to an equitable percentage of that amount.

At the Law Offices of James O. Bass, P.C., we can look into the benefits of a qualified domestic relations order (QDRO), which allows for retirement assets to be divided without tax consequences and means that a divorcing spouse would not have to receive those savings at divorce. Our law firm can access the expertise of accountants who could project the future value of a retirement asset — such as a pension, 401(k), IRA or stock option — to ensure that you get your fair share in the QDRO.

The Experience And Dedication To Protect Your Retirement. Call Us Today.

Learn more about the connection between divorce and retirement savings by contacting our Woodstock divorce and family law firm. Contact us at 770-628-1136 or by email.