Treating Your Retirement Assets With The Same Care That We Would Ours: San Antonio Attorneys
Divorce is a challenging journey, especially when it involves the division of complex assets. Our Texas divorce attorneys at Sralla Family Law PLLC understand this firsthand. They have represented hundreds of San Antonio clients in divorce since 2006.
When it comes to dividing retirement assets, you deserve a team that approaches your case with the same care and dedication you’ve invested in your future. We are here to ensure your asset division process receives the utmost respect and attention to detail. We provide you with the meticulous attention of a small firm paired with the robust services typically found at larger firms.
Tailored Guidance In Retirement Asset Division
In Texas, the concept of community property means that all assets acquired during the marriage must be divided equitably. Our team is adept at navigating these waters. Here are some common retirement accounts we routinely address in divorce proceedings:
- 401(k) and 403(b) plans
- Individual retirement accounts (IRAs)
- Employee stock ownership plans (ESOPs)
- Pension plans
- Deferred compensation plans
Our team has a wealth of experience guiding high net worth clients through the intricacies of divorce, including silver divorce in Texas. They are well-versed in the nuances of handling sophisticated portfolios, including real estate, stock options and offshore assets.
Strategically Using QDROs To Preserve Your Manage Assets
A qualified domestic relations order (QDRO) is a crucial legal tool in divorce for the division of retirement plans. This legal document enables a direct and tax-efficient transfer of retirement funds. Our asset and property division attorneys are skilled in its precise execution. We can use QDROs to protect your right to receive a fair share of assets and ensure that retirement benefits are appropriately allocated.
Retirement Asset Division FAQ
At Sralla Family Law PLLC, we understand you have questions, and we have answers. We want you to have as much information as possible about your legal options while splitting up retirement assets during a divorce. Here are five of the questions that our clients ask most often:
What happens to retirement accounts and pensions during a divorce?
Typically, they are subject to property division just like any other assets a couple earns or acquires during their marriage. This may mean that the spouse who is not the account holder is only entitled to split the portion of the account earned during the marriage, excluding the percentage earned either before or after.
Can retirement accounts be divided equally between spouses in a divorce?
They can, but this would mean that the couple was married for the entire duration of the employment that qualified for the account. If a couple was married for all 30 years of employment, for instance, an equal split may be ordered. But if the marriage was shorter, the percentage may be smaller.
What is a Qualified Domestic Relations Order (QDRO), and when is it used?
A QDRO is a court order specifying how a retirement or investment account should be divided. That account may only pay out in the future, so the court order specifies who has a right to it at that time.
How is the value of a pension determined for division in a divorce case?
Typically, the court looks at the duration of the marriage and when the pension was earned. For instance, if a couple was married for 15 out of 30 years of employment, then the other spouse may receive just 25% of the total account.
How can I ensure that my retirement benefits are fairly divided in my divorce?
Do not leave things up to chance. Consider all of the legal steps to take and how an official QDRO can define each person’s rights. Retirement assets are an oft-forgotten part of asset division, but they can be very valuable, so it pays to consider them carefully.
Discuss Your Retirement Benefits With A Divorce Lawyer
Let us help you navigate the complexities of dividing your retirement assets with confidence. Contact Sralla Family Law PLLC today at 210-600-9565 or send us an email to schedule your initial consultation and take the first step toward securing your financial independence.