Retirement Accounts & Divorce
Attorney Explains Benefits Division
The division of some marital property is fairly simple, but this is not the case when it comes to retirement plans, pensions, and social security. Though retirement accounts can represent a considerable portion of a couple's net worth, they are often overlooked or neglected during the settlement process. This almost always shortchanges the non-employed spouse. The longer a couple has been married and the closer they are to retirement, the more important the division of retirement benefits becomes.
Contact us online or call 614-656-4252 to speak with a knowledgeable lawyer.
Generally speaking, any funds that are added to a retirement plan during a marriage belong equally to both partners. Federal guidelines govern the division of 401(k), 403(b) & IRA plans while state laws determine the division of Public Retirement Plans. To ensure that the division of retirement assets is clearly spelled out and legally binding, a Qualified Domestic Relations Order (QDRO) is often required.
Not All Lawyers Handle Retirement Accounts!
If you're not careful, it's easy to wind up with an attorney who is not sufficiently skilled at handling the complex division of retirement property. This may not be a problem if you are the primary account holder, but can be a huge problem if you're the non-employee spouse. At Richard L. Morris Co., L.P.A., we help clients in Columbus, Gahanna, and throughout Franklin County divide their retirement accounts equitably during a divorce.
When you have questions, we can help. Call us for answers to these and more:
- Will my portion be paid as a lump sum or as monthly payments?
- Can I afford to wait until retirement to collect?
- If I forego my share of retirement benefits, can I be immediately compensated elsewhere?
For over 33 years, Richard L. Morris Co., L.P.A., has been taking the surprises and unknowns out of the divorce process. Call or email us to schedule a case review!
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Put 33 Years of Experience on Your SideAttorney Morris has served individuals and families throughout Franklin County, OH since 1995
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Your Rights Are Always Our PriorityFrom divorce to child custody, we handle cases both big and small with the utmost diligence.
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We Can Thoroughly Review Your CaseWe understand how overwhelming a divorce can be. Call or email today to schedule a consultation.
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“Rich is the person you want in your corner!”
Very knowledgeable, and helped make a tough time a little bit easier!- Courtney L. -
“His no-nonsense approach helped protect me and family!”
“His no-nonsense approach helped protect me and family!”- Ben W. -
“Great attorney”
Great attorney and, if I did get married again (never) I would use him again to be free.- Kevin -
“Excellent Dissolution work”
“Richard was very attentive to my needs and while I don't have experience with using attorneys, he didn't appear to waste any of my time, or his - he got right down to the point in every meeting and handled everything extremely professionally.”- Mike -
“I trust implicantly, who is one of the most ethical, moral, kind people I have ever met.”
“I trust implicantly, who is one of the most ethical, moral, kind people I have ever met.”- Ken M. -
“He was extremely professional and I absolutely would use him again! Thank you so much again, Rich!!”
“He was extremely professional and I absolutely would use him again! Thank you so much again, Rich!!”- Kelly T. -
“Extremely great lawyer!!! He will take care of your issues!!!”
I used him 12 years ago when I was going through a nasty custody case with my narcissistic child’s father. Richard knows his stuff and protects his clients!!!! Thank you so much!!!!- In B. -
“Thanks for helping to make this process less stressful for me.”
Richard Morris was very professional in helping me with my divorce. He took the time to address all my concerns and followed up with me promptly. I appreciated how direct he was and I liked his no-nonsense attitude. I wouldn't hesitate to use him again, if I ever needed legal representation. Thanks for helping to make this process less stressful for me.- Tish B.
