Your Retirement Plan May Be Divided In A Divorce

Any marital property, which generally includes any property that was acquired during your marriage, is divided equitably during divorce. This includes any retirement assets or investments gained during your marriage. If you have significant retirement investments, it is important that you work with an attorney who can help you properly value and divide these assets in your divorce.

For more than 30 years, Angiuli & Gentile, LLP, has helped clients on Staten Island and throughout New York City with divorce issues. We can help you evaluate the best methods for dividing your retirement investments so that your long-term goals are protected and you receive your fair share of marital assets.

Understanding The Impact Of Your Retirement Plan

The types of investments in your portfolio will dictate the steps we take in your divorce. Every family's retirement plan is unique and may include any type of investment strategy, whether a pension from a government job, a 401(k), an IRA or other type of investment.

Retirement accounts are meant to provide you with income in the future. As a result, you may face financial penalties if the account is cashed out and divided today. There are steps we can take, however, to divide the investment at the time when it is most beneficial to you: your retirement.

For example, we can have a qualified domestic relations order (QDRO) issued by the court. A QDRO is a type of court order that instructs the administrator of the retirement pension or investment to distribute a portion of it to a former spouse. This can allow us to divide the account in court today so that you or your spouse receives an equitable share tomorrow.

Learn More From A Divorce Attorney

For advice tailored to your specific situation, speak with an attorney at our firm about your divorce. We will provide you with advice about your rights, obligations and the process of dividing retirement accounts in divorce. Call us at 347-201-4447 or contact our firm online to schedule a consultation with an experienced New York divorce lawyer.