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Retirement Assets and Property Division in a North County Divorce

On Behalf of | Apr 15, 2020 | Divorce

How are issues such as retirement assets and property division in a North County divorce going to be handled? Does the social security, retirement accounts, retirement benefits or the pension of either or both parties come into play? Almost every North County or Carlsbad divorce case involves the division of retirement assets.

The experienced divorce attorneys at Burke & Domercq provide sound advice and counsel to prevent the division of retirement assets from creating unexpected, irreversible or negative financial or tax consequences for our clients.

Most retirement plans such as 401(k) and pension plans are considered to be “qualified” plans. The approach to these plans, like community property, requires a fair and mostly equal division between the parties. These plans often become part of the larger property division discussion and can even impact decisions regarding business ownership, spousal support and in some cases child support.

Most qualified plans are divided using a Qualified Domestic Relations Order or QDRO. The plan administrator usually has their own version of a QDRO which must be integrated into the ultimate orders in your divorce case.

Social Security benefits have separate issues, and in many cases a spouse in a marriage lasting more than 10 years can receive benefits based upon the other spouse’s contributions to the system.

Issues surrounding retirement assets and property division in a North County divorce are legally quite complex. The likelihood of irreversible errors substantially increases when the parties attempt to handle these issues on their own. This is why it is important to work with the experienced Carlsbad divorce attorneys at Burke & Domercq.

Our attorneys have decades of experience representing clients before North County family law courts. We invite you to review the recommendations of our clients and contact us or call 760-389-3927 to schedule an appointment with one of our proven attorneys. Learn how California law applies to your retirement accounts and unique circumstances and how our attorneys work to protect your interests.