Helping Clients Protect Their Retirement Savings in Divorce
These days, especially with decline in the housing market, many people’s primary assets are their retirement savings. This is why, in your divorce case, it is important to work with a lawyer who understands the rules for dividing martial property in retirement accounts.
I am David L. Moreno, an experienced Staten Island retirement account division attorney. If you are concerned about what will happen to your or your spouse’s 401(k), IRA, pension, or other savings, I can help you understand your options and pursue the best possible outcome.
Understanding the Rules for Dividing Retirement Accounts in New York
Generally, any retirement savings earned by either spouse during their marriage are considered marital property and can be divided in a divorce case. Retirement savings earned by either spouse prior to their marriage are separate property and cannot be divided.
Sorting out how much of the money in your or your spouse’s retirement accounts is marital property and how much is separate is a complex process requiring careful attention.
I am experienced at analyzing retirement accounts and ensuring that my clients receive their fair share. I am also experienced at preparing qualified domestic relations orders (QDROs), which must be used to avoid serious tax consequences when dividing retirement accounts.
New York Divorce Attorney – 401(k)s, IRAs, Pensions – 718-727-2327
When you have been working an paying into your retirement savings for years, or when you have been supporting who has been accumulating savings, you deserve an opportunity to make sure those savings are being divided in accordance with the law.
To discuss what steps I can take to protect your interests and pursue the best positive outcome, please contact my office today at 718-727-2327 to schedule a free consultation.