Protecting Your Retirement Assets in a Divorce
For many people, the money they have saved for retirement is their largest single asset, perhaps rivaled only by the equity in their homes. During a divorce, it is essential that you receive your fair share of that money.
At Shapiro Family Law, we have extensive experience in matters relating to the division of retirement assets. Our attorneys understand the many complex aspects of this process and work diligently to protect the retirement assets of our clients.
We welcome inquiries from people in the Denver area and throughout Colorado.
Types of Retirement Assets Subject to Equitable Distribution
Even if you regularly monitor your investments, you may be surprised by the value of your retirement assets. These can include:
- Roth IRAs
- 401(k) accounts
- 403(b) deferred tax accounts for public school employees and employees of nonprofits
- Defined benefit pension plans and defined contribution plans
In addition to tax-deferred accounts and pensions, you may also own taxable investment accounts that are subject to equitable division.
Dividing Retirement Assets in Divorce
When we handle your divorce case, your lawyer will carefully review your financial documents, including your account statements.
In some cases, we will ask a financial expert for a valuation and draft a qualified domestic relations order (QDRO) that directs your financial institution to divide your retirement accounts.
In other cases, we may choose a different approach. For example, a two-income couple may own separate 401(k) accounts of roughly equal value. Provisions can be made in the settlement agreement for one party to make up the difference through a nontaxable transfer of funds.
Shapiro Family Law has creative property division solutions. We will work hard to protect your rights and retirement assets throughout the divorce process.