How Divorce Changes Your Retirement Planning
Pensions, 401(k) benefits and other retirement funds can create some of the most complicated and contentious aspects of a divorce. To protect your interests, make sure you work with a lawyer who understands the complex nuances involved with dividing retirement benefits in divorce.
Attorney Patricia Best Vital, founding attorney and sole practitioner of Vital Law Office & Dispute Resolution Services in Chattanooga, Tennessee, has the experience and knowledge to handle these complicated legal matters. With more than 20 years of experience in asset division and other divorce-related matters, Ms. Vital offers unique insight and understanding to help protect your financial interests.
Complicating Factors When Dividing Your Retirement Plans
Most people simply don’t know what goes into the division of assets agreements or orders when it comes to dividing 401(k)s and other retirement benefit assets. Some of the complications include:
- Determining the percentage of interest each party should receive
- Deciding what portion of the benefits should be considered marital property
- Establishing at what point the interest and pensions should stop being considered marital property
Another complication involves qualified domestic relations orders (QDROs). A QDRO is a legal instrument that establishes a spouse’s right to receive a portion of the other spouse’s retirement benefits. It is included in a mediated settlement agreement or court order. These determinations involve knowledge, experience and complex calculations.
Contact Vital Law Office & Dispute Resolution Services
Attorney Patricia Best Vital has experience with the complications involved with the division of retirement benefits and other complex assets. She will walk you through the process to make sure your rights are protected and you get a favorable result.