Division of Retirement, Pensions and Investment Accounts
In many cases, one or both spouses have 401(K) and IRA accounts which were in existence prior to the marriage but still received contributions during the marriage. In these situations, stock brokers with appropriate expertise are engaged to determine the present value of the pre-marital component of the account to make sure that component is set aside as the owner spouse’s non-marital property.
Pensions and retirement accounts are often divided in divorce cases. Assuming the division is done pursuant to a final judgment of dissolution of marriage and subsequent qualified domestic relations order (QDRO), then the division is non-taxable and without penalty to either party.
The attorneys at Rice and Rose have experience with complicated marital property issues, including complex retirement and investment accounts. Contact them to discuss how to best protect your interests and your financial security.