In many divorce cases, the spouses’ retirement accounts represent the largest assets in the marital estate. Retirement accounts such as a spouse’s 401(k), IRA, or pension may be valued at tens or even hundreds of thousands of dollars. Retirement accounts opened during the marriage are considered marital property subject to division at divorce.
If a retirement account was opened prior to the marriage, then any increase in value from the date of separation until the divorce is finalized may be subject to equitable distribution. It may be necessary to calculate the marital portion of your retirement accounts, which can be divided by court order in a divorce settlement without tax consequences.
Spivak Law Firm provides smart, compassionate, cost-effective representation in all divorce matters. To schedule a consultation, call Spivak Law Firm at (412) 344-4900 or toll free at (800) 545-9390.