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Property Division & Retirement

Bridgeport Property Division Lawyers

A retirement fund is often the most significant asset acquired during marriage outside of the marital home. Therefore, it is essential that any marital settlement agreement carefully address any retirement funds, including stocks, IRA's, 401k's pension plans, or other investment plans. The law firm of Gans & Gans has the experience and resources to help you understand how retirement funds are treated in property division and help you establish a property settlement agreement which fully protects your right to these assets.

Asserting your Rights to ALL Marital Property

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A retirement fund is a marital asset and should be considered accordingly when determining division of property. If an agreement is not reached involving retirement funds, the courts will utilize the same factors as used for determining other property division, giving each party an equitable share of the retirement fund or an asset of comparable value.

  • Division of retirement funds: If a retirement fund is divided between the couple, it is necessary to determine the value of the funds at the date of the divorce decree. Funds can be transferred separately through a QDRO (Qualified Domestic Relations Order) without penalty. This enables a spouse to have rights to his/her equitable portion of the retirement fund and accrued interest.
  • Allocation of comparable asset: The value of the retirement fund is determined by considering current monetary value (from the date of the divorce), life expectancy, assessment of retirement age, and many other factors. Once determined, comparable real estate or other assets may be awarded in place of a share of the retirement fund.

Before making any property division agreements, it is important to understand the elements of your retirement funds. We recommended that you obtain any financial information necessary before filing for divorce so that you are aware of all retirement and investment plans before the documentation is disputed or altered. We help you understand the retirement funds you and your spouse possess. We then negotiate a plan for distribution which reflects your goals and interests.

Individualized Property Division Guidance

Our divorce attorneys are recognized for our competence, integrity, and resolution-oriented tactics. We offer the personalized attention and support that you need during this difficult time. To schedule a free initial consultation with our property division attorneys, contact our experienced family law firm today.

Gans & Gans

1335 Wood Avenue
Bridgeport, CT 06604