Securing Your Future Financial Stability
In a divorce, it can seem like all your hard-earned retirement savings are at risk. The idea of parting with your savings can be distressing, especially if your golden years are not far off.
The process of dividing retirement assets can be complicated. At Weinberg & Cooper, LLC, we provide an experienced perspective in the division of retirement funds. We have assisted with dividing high net worth assets since 1996. We prioritize your long-term financial security throughout the asset division process.
Equitably Dividing Your Retirement Assets
Retirement assets accumulated during the marriage in New Jersey are marital property. To determine the equitable division of such assets, a thorough valuation is conducted. This process varies by your savings vehicle, whether it be a pension, defined contribution plan or an IRA.
What Is A Qualified Domestic Relations Order?
A qualified domestic relations order (QDRO) is often necessary to ensure each spouse receives their fair share following the divorce. This court-ordered judgment informs plan administrators of the exact division of the assets. It can be essential to assert the rights of one spouse to assets in the name of the other. We will advise on obtaining a QDRO and structuring a sound agreement.
Guidance Throughout A Challenging Process
Dividing your retirement assets can be undeniably complicated. We will provide guidance:
On when dividing assets may be unnecessary, such as if you and your spouse have a comparable amount of savings
On what to expect when one spouse has substantially more savings than the other
When you wish to give up something in return for retaining a larger share of savings
- By involving financial and tax experts to assist in valuing separate property contributions and the projected future value of assets
- In structuring a sound QDRO that protects your financial interests and avoids future uncertainty
Our lawyers offer knowledgeable counsel through a challenging process. We understand how much of an impact a divorce can have on your ability to retire comfortably. We will protect your interests and ensure a fair division structure.
Let Us Help Protect Your Nest Egg
Secure your future with a skilled family law attorney. We assist individuals across Bergen County and Northern New Jersey. Schedule an initial consultation with us in Hackensack by calling 201-580-3934 or sending us an email.