Retirement And Divorce Lawyer

For many people, their retirement accounts are the largest assets they own. When it comes to divorce, this is the asset people are most concerned about during the proceedings. Figuring out property division, especially with retirement accounts, is confusing and often complicated.

I am attorney George L. Metcalfe, and I understand how these matters work and how to resolve them successfully and efficiently. At my firm George Lambeth Metcalfe, P.A., in Vero Beach, Florida, I have helped people figure out retirement and divorce matters. I can make you feel more comfortable with the process and more confident about your financial security in the future.

What Happens To Retirement Accounts In Divorce?

One of the most common questions in the divorce process where property division is concerned is regarding retirement accounts. People may wonder if they or their spouse is entitled to half of the retirement assets. In short, the answer is usually yes. In Florida, money contributed to retirement or any other type of account during the duration of the marriage is considered community or marital property. Therefore, retirement accounts are most likely considered marital assets and are subject to be equally divided in the event of a divorce. This is true even if you or your spouse are not retired yet.

To access these benefits, the court should issue a qualified domestic relations order (QDRO) that allows someone to receive part of their spouse’s retirement plan benefits. This order recognizes an alternate payee’s right to receive benefits and is essential in the divorce process when dividing retirement accounts fairly according to marital property rules.

There are also ways to protect your retirement accounts during divorce. Whether you have a 401(k), a pension plan or an IRA account, there are strategies we can use to guard your assets. I have spent years helping people negotiate in these processes and find fair divorce settlements. One method is to offer your spouse an alternative asset rather than half your 401k or pension. Ownership of your home or a life insurance policy can qualify as an alternative asset to your retirement accounts.

Additional Considerations For Retirement

Figuring out all aspects of retirement is complicated enough, but a divorce prior to retirement can complicate things even more. Dividing 401(k)s, pension plans and IRAs can impact your retirement plans. With an experienced attorney on your side, you can develop strategies to protect your finances and plan for financial security after divorce. There are several options to consider. Your divorce attorney can help you petition for spousal support, if applicable and necessary.

After a divorce, people may also be eligible to receive Social Security benefits based on an ex-spouse’s work record. If you were married for at least 10 years, you may be able to access a portion of your ex’s Social Security benefits after age 62. Your attorney can give you more information about these additional retirement benefit considerations and outline your options during divorce.

Find Out More About Retirement And Divorce

These issues are complex and should be handled with care and thought. I can help you secure a fair divorce settlement that accounts for all proper retirement benefits. To learn more about what I can do to assist, set up a consultation.

Schedule a consultation to get started. To set up an appointment, call 772-292-0930 or use the online contact form.