Boynton Beach Retirement & Pension Division Lawyer
The laws regarding retirement and pension division in Florida divorce may be important for those approaching retirement, but they can also affect cases involving parties at any age. These are unique assets in that they are often tied to employment and may not be presently accessible. Still, retirement and pensions have value, so they must be addressed in terms of how they affect multiple issues in a divorce case.
Our team at The Law Office of Taryn G. Sinatra, Esq. is knowledgeable about how retirement and pension accounts are treated under divorce laws. We can advise you on strategies to preserve their value, and we will fight to protect your rights to the proceeds. Please contact us to set up a consultation with a Boynton Beach retirement & pension division lawyer who can provide details. You may also benefit from reviewing some basics about these assets in divorce cases.
Summary of Pensions and Retirement Accounts
There are three issues in a divorce case where your interests in these accounts may be relevant:
- Property Division: Marital property is split equitably between the spouses. The value of a retirement plan or pension will be included when the judge weighs property division.
- Alimony: A party can request spousal support, and a court may award it if appropriate. Retirement and pensions will be reviewed, both those of the potential payor and the requesting party.
- Child Support: A pension or retirement account may be the source of funds for the paying parent to meet child support obligations.
Use of QDROs
There are special considerations when pensions and retirement are at issue in a divorce, and when they could be the source of funds for alimony or child support. The plan administrator needs a legal basis to do what the divorce court orders, especially when a person other than the participant will receive the benefits.
In such a case, it is necessary to prepare a Qualified Domestic Relations Order (QDRO). This order instructs the plan administrator to name an alternate payee to receive the participant’s benefits, including a child or ex-spouse.
Assistance from a Lawyer
Legal help with divorce is critical, particularly when dealing with pensions and retirement accounts that represent unique types of property. A South Florida divorce lawyer at The Law Office of Taryn G. Sinatra, Esq. will:
- Review documentation related to your pension and retirement accounts;
- Assess these accounts along with all other property;
- Advise you on negotiating settlement and working toward agreement;
- Participate in mediation; and,
- Represent you in court at a contested hearing.
Contact a Boynton Beach Retirement & Pension Division Lawyer for Details
Legal help is critical with many aspects of divorce, so you will need knowledgeable advice when retirement and pension accounts are at issue. At The Law Office of Taryn G. Sinatra, Esq., we are ready to explain the laws and leverage different opportunities to resolve disputes. Please contact us to schedule a case evaluation today. After learning more about your situation, our Boynton Beach retirement and pension division lawyer can provide specifics.