How Divorce May Affect Retirement Assets
People save for retirement for years, putting away assets in a strategic manner in order to live comfortably. Now that you are facing divorce, protecting these retirement assets is a major concern. Fortunately, a skilled attorney can help you understand how the property division process will affect your retirement accounts.
At Minion & Sherman, we provide honest, accurate and thorough advice to clients facing divorce and related issues. We have more than 40 years of combined experience serving clients in New Jersey. Our lawyers have a 5 out of 5 Overall Client Rating on lawyers.com, a testament to our legal ability and client focus. You can be confident that we have the experience and the skill necessary to obtain a fair property settlement that protects your pension and retirement to the greatest possible extent.
To arrange a free consultation with our experienced Essex County, New Jersey, pension plan lawyers, please call 973-559-5791 or toll free 866-915-1839. You can also contact our law firm online. Evening and weekend appointments are available.
Handling All Types Of Retirement Accounts
Working with accountants and tax professionals, our New Jersey lawyers will work to preserve your assets, including your:
- 401(k) accounts
- Corporate pensions
- Profit-sharing arrangements
- Deferred compensation plans
Do You Need A QDRO?
A QDRO may be required before certain accounts can be divided. QDRO stands for qualified domestic relations order. If a plan requires a QDRO and you don’t have one, the plan benefits may not be distributed correctly or you may get no benefits at all. Additionally, there can be significant tax penalties if a QDRO is not filed.
QDROs are highly technical, and even small errors can result in serious consequences. At Minion & Sherman, we are experienced in preparing these documents and serving them on the retirement plan administrator.
Contact Us For Help With Retirement Accounts During Divorce
To learn more about our approach to retirement property division, we invite you to schedule a free consultation. To arrange a meeting, please call 973-559-5791 or toll free 866-915-1839. You can also contact our West Caldwell law firm online.
Evening and weekend appointments are available. We serve clients in Essex County, Passaic County and Morris County.