Retirement is something you have worked your entire life for, but divorce at any point can add a wrinkle to the retirement you wanted to have. To navigate these matters in a way that works for you requires the attention of skilled, attentive attorneys.
With over 30 years of experience, the attorneys of Greenwood Associates have built a reputation for dedication and attentiveness to clients across Utah going through a divorce. Retirement asset division is one of the most complicated issues in family law, and we have assisted many clients with it. Our attorneys have also addressed the complex issues attached to military retirement accounts and military benefits in family court. No matter the unique circumstances of your situation, we can guide you through to a positive resolution.
Why Retirement Assets Are So Complicated
Retirement accounts often blend separate and marital property. You may have started a retirement account before marriage, funded it with an inheritance, or received part of it as a gift. To the extent you contributed marital funds, dividing the assets equitably becomes far more complicated, because only the marital portion is typically subject to division.
Many people also have pensions or employer-provided retirement plans. These plans are governed by federal law, and dividing them usually requires a special court order, often called a Qualified Domestic Relations Order, so that the plan administrator can pay a share directly to the other spouse without triggering early-withdrawal penalties or unnecessary tax consequences.
Executive and Deferred Compensation
Not every compensation package fits in a tidy box. Stock options, future interests and deferred compensation may be fully vested, partially vested or completely unvested, and each requires careful analysis under Utah divorce law. Our attorneys combine deep family law experience with financial acumen to protect your interests, including in high-asset divorce litigation.
Our firm works with clients from Provo, Orem and the surrounding area in all family law matters. Call 801-377-4652 or send us an email here.