If you are facing divorce you need to understand that the community part of a retirement plan is subject to division. During divorce yours or your spouse’s retirement assets can cause major financial stress. Some of the accounts that could be subject to division are listed below:
– Roth IRA assets
– 401(K) assets
– Private & governmental pension plans
– Employee stock ownership
– Life & other insurances
These are just some of the types of accounts that could be facing division during a divorce. A couple questions that need to be answered during the asset examination are:
– When did the asset vest?
– Is the asset fully matured so that it can be divided?
It’s important to note that if assets are liquidated early there could be severe tax consequences in some cases.
You Need An Experienced Phoenix Asset Division Attorney
When you are dealing with a divorce and Retirement assets come into play it’s important to hire the right lawyer. These assets could be a significant portion of the total community assets that are divided. The Law Office of Louis Lombardo, PC works hard to protect it’s clients. We are experienced in all aspects of community property division. We use that experience to work aggressively get our clients the results they are looking for. If you would like learn more we want to offer you a complimentary phone consultation. To get started please give us a call at 480-413-9300 to see how we can assist you in your case.