Helping You Divide Retirement Assets In A Divorce
For couples without children, most of the work of filing for divorce comes with dividing property between spouses. This process goes differently in Texas than in most of the U.S. That’s because Texas is one of nine “community property” states, which means that most property owned by a married couple — called “marital property” — is presumed to be owned equally by both spouses.
Exceptions are made for “separate property” owned by just one spouse, such as assets acquired before marriage and those inherited by just one spouse. But for the most part, courts in Texas are predisposed to divide property 50/50 between parties in a divorce. At Hope Family Law P.C., I understand that a 50/50 split is not always a fair division of your debts and assets. I am committed to standing up for your financial interests and will work to ensure that your property is divided to reflect your interests to the maximum degree possible.
Don’t Let Divorce Jeopardize A Retirement Account
Like any other asset, 401(k)s and other retirement accounts are usually considered community property in Texas. Even though the account is in just one spouse’s name, any benefits accrued during your marriage are considered marital property.
It’s essential to work with a lawyer throughout your divorce who knows how to divide retirement accounts in a way that meets your needs in a form acceptable to the plan administrator. In addition to this option, my firm can help you identify creative solutions while dividing property, such as awarding a retirement account to one spouse and the house to the other. I will help you assess your options and choose the one that interests you most.
Divide Assets With The Help Of A Board-Certified Family Law Specialist
I have been certified since 2004 as a family law specialist by the Texas Board of Legal Specialization. I have over 25 years of legal experience — to see how I can put that experience to use in your case, call 972-521-1961 and schedule a consultation in my Dallas office. I am also available by email.