The equal division of assets between former spouses is vital to safeguarding your family’s future. In Texas, retirement accounts, pensions, IRAs, ERISA funds, and employee stock plans fall under community property and are therefore a major component of asset division during divorce. Fair division of a retirement account is pivotal—you have worked hard throughout your entire career and marriage to acquire financial security! While many couples default into a “you take your retirement account, and I’ll take mine,” method of retirement division, this is not always equitable for both parties.
It is crucial to keep the financial well-being of your family in mind while you are in the process of establishing your new life after marriage. The contributions that both spouses accumulate during the marriage must be carefully distributed in such a way that you are receiving the fair amount you deserve. At Higdon, Hardy & Zuflacht, L.L.P., our San Antonio retirement division attorneys have the resources to accurately evaluate your retirement holdings and proactively protect our clients’ interests. The guidelines that outline how retirement accounts can be divided are complex, but having knowledgeable and experienced representation on your side is invaluable in navigating these matters.
Retirement Plans Subject to Division
When divvying retirement assets, you will need a skilled attorney to draft and execute a qualified domestic relations order (QDRO). This order allows the contents of a retirement account to be distributed between parties. Retirement assets that are subject to division include:
- Military pension
- Civil service retirement plan
- Educator retirement account
- Public employee retirement account
- Any plan that benefits from pre-tax exemption
It is of the utmost importance to have up-to-date knowledge on all accounts subject to division. Gauging the real value of a retirement account is difficult, but a qualified attorney can ensure that you are receiving the fair amount you are due.
Contact a Retirement Division Attorney
If you have concerns about your retirement division, don’t hesitate to contact the property division lawyers at Higdon, Hardy & Zuflacht, L.L.P. for support in the midst of your divorce. Our retirement division attorneys can help you navigate through this multi-faceted landscape. Reach out to us today at our San Antonio offices by calling (210) 349-9933 to discuss your case in further detail.