Retirement Accounts And Investments In A Divorce
If you are going through a divorce, you likely have questions about what the law says about dividing your retirement and investment accounts. Will your spouse get half of your accounts, including your retirement accounts?
In Florida, retirement accounts and investments accounts are generally considered to be part of the “marital estate” that will be divided between the two spouses in a divorce. However, the value assigned to those accounts and the amount of growth attributed to the account before and after the marriage need to be determined.
Dividing Assets Requires A Complex — And Expert — Account Analysis
Determining what portion of these assets should be considered marital property can be quite complex. Be sure that you have an experienced attorney behind you who knows your rights and has the ability to protect them.
At the law firm of The Holman Law Firm, our lawyers handle division of investments and retirement accounts for clients going through divorce. Please call us at 850-316-8243 or toll free at 850-435-6909. Our goal is to secure a fair division of property for our clients.
How Are Retirement Accounts Different?
Most retirement accounts are held in only one spouse’s name. Over time, these accounts increase in value. The amount that the account has increased in value during the marriage is considered marital property.
When the divorce is finalized, people need a way to transfer all of the divided property to the former spouse. For retirement account transfers, the court will issue what is called a qualified domestic relations order (QDRO).
The spouse receiving the funds will need to present this to a financial institution or firm where the account is held. Then, he or she will be able to obtain the funds and deposit them into his or her own retirement account. We can help you prepare the necessary documents to ensure that the transfer process goes smoothly.
How Are Other Investments Divided In Divorce?
Valuing other kinds of investments like real estate, family businesses, professional corporations, stocks and commodities, require expert analysis. Usually the spouses will disagree on the value of their assets and the influence each has had on the success, or failure, of the investment.
Experts will look to many different factors to determine a value for an investment. And our expert will likely value an asset differently than your spouse’s will. Our job is to advocate for a valuation that is fair to you and reflects your financial interest in the present and future income that could be generated from than asset.
Contact Our Family Law And Divorce Attorneys
Please schedule a free initial consultation about going through divorce when you have significant investment and retirement accounts. Call us at 850-316-8243 or toll free at 850-435-6909 or contact us online.