During a divorce, you’re expected to divide your marital assets with your spouse. In North Carolina, this must be done in an equitable way, which does not always mean it’s an equal 50/50 division. Retirement accounts are included in this type of division and can be a point of concern for many spouses. You have likely spent years building up your retirement savings, and you may worry about how your divorce will impact your future retirement plans.
At Ellis Family Law, P.L.L.C., our divorce attorneys can help you explore your options. We represent spouses throughout the Triangle area from our offices in Durham, Cary, Pittsboro and Wake Forest. We will learn about your unique situation and develop a plan that will protect your retirement assets.
Retirement accounts can include assets such as 401(k)s, IRAs and pensions. You have probably built up your accounts over many years with the plan of using them to fund a satisfying retirement. Divorce can impact these accounts. If you have collected retirement benefits through your employer, the amount earned during the length of your marriage is considered marital property and therefore will be divided with your spouse during a divorce unless both of you agree otherwise.
You may be able to avoid the division process entirely if you have a prenuptial or postnuptial agreement in place that addresses how to handle your retirement assets.
To divide your retirement assets during divorce, you will need to prepare a Qualified Domestic Relations Order (QRDO). This is a legal document issued by a judge that outlines how to divide retirement assets for the retirement plan administrator. A QRDO will allow you to specifically state the amount each spouse will receive from the retirement account once the funds are received. QRDOs can also help the owners of the retirement accounts avoid paying taxes or penalties on early withdrawals. Our attorneys at Ellis Family Law, P.L.L.C., can help you prepare and draft a solid QRDO that protects your share of the retirement assets.
We understand many spouses feel protective over their retirement accounts. You’ve worked hard to build up your funds and you don’t want to lose any of what you’ve acquired because of a divorce. Especially for couples who are at or nearing retirement age, it can be difficult to have to divide your assets when retirement is around the corner.
Our divorce lawyers take the time to fully learn about your situation and provide you with personalized options.
Shannon Tucker helped me achieve an exceptional result in my case, and her services were well worth the cost. She is highly experienced, competent, knowledgeable, and savvy. Throughout the process,...
Shannon Tucker helped me achieve an exceptional result in my case, and her services were well worth the cost. She is highly experienced, competent, knowledgeable, and savvy. Throughout the process, I felt that my case was in capable hands. If you are looking for an attorney who knows what she is doing and will take good care of you, I highly recommend Shannon Tucker.
Tremendously helpful, responsibly aggressive in an advisory capacity. Fortunate to have been referred to Kathleen.
...Tremendously helpful, responsibly aggressive in an advisory capacity. Fortunate to have been referred to Kathleen.
Kathleen and her team are excellent. She is straightforward, professional, and gives honest advice, even when it isn’t what you want to hear. She focuses on your best interests and...
Kathleen and her team are excellent. She is straightforward, professional, and gives honest advice, even when it isn’t what you want to hear. She focuses on your best interests and helps you work through a difficult process. I appreciate her guidance and the team’s support. Highly recommend.
Dear Shannon Tucker and Ellis Family Law, I truly cannot say enough good things about Shannon and her team. Going through a custody battle involving my son was one of...
Dear Shannon Tucker and Ellis Family Law,
I truly cannot say enough good things about Shannon and her team. Going through a custody battle involving my son was one of the most stressful and emotional situations I’ve ever faced, and having Shannon in my corner gave me an incredible amount of peace of mind.
From the beginning, I trusted her completely. Even with an incredibly short notice with my request for help, Shannon handled every aspect of my case tactfully, professionally, and with genuine care. She was an incredible negotiator, always made sure I understood what was happening and when/why it was happening, and most importantly, made sure I felt comfortable with every decision along the way.
In a situation that naturally comes with so much stress and uncertainty, Shannon took a tremendous amount of that weight off my shoulders. I knew she was fighting for what mattered most to me and that I could trust her judgment every step of the way.
Calling her a lifesaver honestly feels like an understatement. I will always be grateful for what Shannon did for me and my family. If you are looking for an attorney who is professional, compassionate, trustworthy, and someone you genuinely want in your corner, I cannot recommend Shannon and Ellis Family Law highly enough.
Five stars without hesitation, thank you so much!
I had a civil matter that two attorneys from different firms had handled very poorly. I engaged the services of Kathleen Murphy at Ellis and she did an exceptional job!...
I had a civil matter that two attorneys from different firms had handled very poorly. I engaged the services of Kathleen Murphy at Ellis and she did an exceptional job! My only regret is I didn’t meet her years ago
I was able to enjoy the professional and capable hands of a superior attorney. She made an ugly situation bearable. She was able to get things for me in negotiations...
I was able to enjoy the professional and capable hands of a superior attorney. She made an ugly situation bearable. She was able to get things for me in negotiations that I’d only hoped for. I couldn’t be happier with the results of my divorce.
We are equally skilled in litigation and in resolving disputes outside of court.
Mediation, arbitration, and collaborative approaches that resolve disputes with less stress and more cooperation.
Thoughtful advocacy for parenting arrangements that protect your children and preserve what matters most.
If you need guidance with dividing retirement accounts during your divorce, our skilled attorneys can help. We represent spouses throughout Cary, Durham, Pittsboro and Wake Forest with complex divorce and retirement account matters.
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