How do we divide retirement in a North Carolina divorce?
Many couples have spent decades planning building a nest egg for their retirement. Then, one spouse decides the marriage is over, and those plans suddenly feel far less secure.
In North Carolina, retirement accounts (for example, a 401(k) or IRA) are treated just like other martial property and are subject to equitable distribution. In essence, a judge will determine what portion of the retirement is marital property and what portion is separate. The judge will then assign a value to the retirement for purposes of dividing it between the spouses.
This can become a very complicated process, depending on the types of retirement accounts. In this section, we will address common questions about the division of retirement plans, as well as tax and other implications.
Divorce brings its fair share of difficulties. That’s no secret. Certainly, it’s an emotionally difficult process – coming to the end of a journey and a relationship that you might once have thought would last a lifetime is painful. There’s no question about it....
Many couples have spent most of their married lives – often decades – saving for retirement. If a couple decides to divorce after many years of marriage, these retirement accounts are an important issue in the divorce. Most couples want to know – how do we divide our...
Retirement plans are treated in the same manner as all other marital property, so one of the most important steps in dividing up your property is to determine where the property falls in the distribution.
Not all retirement plans work the same. Because of the variations found in the retirement plans, the court has a formula to help separate the property appropriately.
Understanding the use of Domestic Relations Orders for dividing retirement when a state employee is involved in a divorce.
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