Division Of Retirement Assets In A Divorce

Retirement assets can be one of the most contentious aspects of any property division dispute in a divorce. That is because many people think about their retirement accounts as representing future stability down the road.

However, according to Tennessee law, most retirement assets acquired during a marriage are considered marital assets. At Cole Law Group we can help you understand your rights and counsel you regarding the protection of your retirement assets. Our lawyers are divorce litigators who work as a team to design creative and practical solutions.

We Can Provide Answers

If you already established a retirement account before your marriage, any of that money put in before the marriage will be a non-marital asset. Any contributions and growth in interest during the marriage will typically be considered a marital asset subject to equitable distribution laws, even if your spouse made no contributions. This includes the following types of retirement accounts:

  • 401(k) retirement plans
  • IRA and Roth IRA plans
  • Pensions

We can work with financial experts who will place an appropriate value on the marital vs. non-marital amounts of your retirement accounts. For example, if your 401(k) was worth $20,000 before your marriage, that amount may still be generating interest.

Do not take money out of your retirement account to try and shield it from the property division process. When discovered, it could negatively affect the outcome of your divorce. Instead, talk with us about your options. We pride ourselves on giving straightforward advice in order to help you make informed decisions that may protect your retirement assets.

Talk About Your Options With A Brentwood Divorce Attorney Today

At Cole Law Group we take pride in providing representation tailored to your needs. Find out how we can guide you through the divorce process and address the stability of your financial future. To learn more, schedule a consultation with an attorney by sending us an email or calling our office in Brentwood, Tennessee, at 615-490-6020.