Fairly Dividing Retirement Accounts In Divorce
Many people don’t understand their rights with regard to the division of retirement accounts as part of a divorce settlement. Under Arkansas law, all retirement accounts and other financial benefits are subject to a 50-50 split between the spouses, regardless of which spouse earned them. The division of these accounts can become quite complex. Having an experienced Little Rock retirement and divorce attorney representing you in these matters can help ensure that your interests are protected.
At The Wright Law Firm, I, attorney Trey Wright, have extensive experience handling a wide variety of complex property division matters. I conduct a complete investigation in an effort to identify all retirement accounts and other benefits by reviewing employment contracts, bank records and any other pertinent documentation in order to ensure that we have a clear picture of all the accounts that need to be divided.
What It Takes To Split These Assets In Arkansas
The division of many retirement accounts is handled through a qualified domestic relations order (QDRO). Others, such as railroad retirement benefits, have special rules and guidelines associated with them. I have a complete understanding of the processes for dividing all types of retirement accounts, and I am diligent in my pursuit of each of my client’s fair share of the funds.
Among the types of accounts that are eligible for division in a divorce are the following:
- IRA and 401(k) accounts
- Pension accounts
- Stock options
- Retirement plans, including railroad retirement
- Profit sharing benefits
- Other Employee Retirement Income Security Act (ERISA)-defined benefit and contribution plans
- Government and military retirement plans