Dividing Retirement Assets
Pensions and retirement accounts often make up the lion’s share of a marital estate. Georgia law provides for these assets to be shared equitably in divorce, no matter who was the breadwinner in the marriage.
The Marietta divorce attorneys of Hill Macdonald, LLC, can explain retirement assets and property division, including exceptions to equitable distribution and alternatives to cracking the nest egg in half. We are skilled at crafting fair settlements that serve your long-term interests and avoid unnecessary litigation.
With a background in finance and accounting, our lawyers can advise on cashing out, tax ramifications and other considerations that might alter the settlement strategy.
Retirement Amounts And QDROs In Your Georgia Divorce
Retirement savings are a common bone of contention. If one spouse made most of the contributions over the years, he or she may feel entitled to that money. Georgia divorce law says that wealth accumulated during the marriage belongs to the couple, to be divided evenly. However, retirement savings that predate the marriage are separate property.
A qualified domestic relations order, or QDRO, governs the division of retirement benefits, such as a 401(k), IRA or other qualified plan. The QDRO assigns a percentage share of each asset, to be distributed at a future date. Pensions and other non-qualified savings are dealt with separately.
A QDRO represents one way to divide your retirement assets. Spouses may simply agree to each retain their own accounts, or one party may buy out the other’s share upfront. Our attorneys can walk you through all the options.
Protect Your Fair Share
If you and your spouse have amassed significant retirement assets, we work to ensure an accurate accounting and fair treatment. We handle all facets of high-asset divorce in Cobb County and adjoining counties. Contact Hill Macdonald online or call toll free at 866-276-2839 to arrange a consultation.