For many people, their retirement accounts can represent their most valuable asset. Retirement accounts are among the assets that are considered for division during a divorce. Ensuring that those retirement accounts are able to fulfill the role of providing financial security later in life can require the skilled advocacy of an experienced attorney. Just because one spouse earned monies deposited into a 401(k) account, does not mean that the other spouse has no claim to it.
Whether you are seeking to protect your retirement accounts from an unfair division or you are concerned about gaining access to your fair share of a retirement account that your marital contributions helped to make possible, we can help.
AV Preeminent* Rated by Martindale-Hubbell, The Best Lawyers in America, Virginia Super Lawyers, Recognized by Washingtonian Magazine
At Surovell Isaacs Petersen & Levy, our Fairfax 401(k) division attorneys have been helping individuals in the Northern Virginia area face the complicated issues that are part of divorce for over three decades. We understand how important it is that we provide exceptional representation. Our clients can rely on us to help them effectively address the complexities that are part of dividing:
- 401(k)s
- Pensions
- IRAs
401(k)s and IRAs
The division of 401(k)s, 457 Plans, and IRAs is the determination of the separate and marital shares of the accounts. We have the tools necessary to look at the entire history of an account back to before your marriage to determine what portion of the account is marital property and what portion is separate even after gains and losses through the years.
Pensions
The division of defined benefit pensions can be some of the most complex work that attorneys can perform. There are frequently multiple options for payout, benefit calculations, or survivor benefit annuities. All options need to be explored and considered before any agreement is reached or proposal presented to a judge. Our experience with the various formulae that are utilized for division as well as survivor benefit annuities allows us to create real solutions for our clients.
Tax Consequences of Retirement Account Division
The valuation of funds that are in retirement accounts is not the same as other assets. Most retirement funds have yet to be subject to income taxes. Determining the proper valuation is the first step in ensuring a proper division of retirement account funds.
Contact the Loudoun County Pension Rights Attorneys of Surovell Isaacs Petersen & Levy
If you are facing divorce and you are concerned about how the issue of the equitable division of assets such as 401(k)s, IRAs or pensions will be handled, turn to the experienced retirement account division lawyers of Surovell Isaacs Petersen & Levy. To schedule an initial consultation, call 703-648-8279 or simply contact us online.
*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.
