One of the things that is often a major goal of a person who is getting a divorce is to get a fresh start to their life. One thing that can complicate getting one's post-divorce life off to a good start is if one is in a financially precarious position following a divorce due to mistakes made during the property division process. Thus, exercising great care can be incredibly important in property division matters.
Our firm understands how much can be at stake in a property division in a divorce and how important a fair property division arrangement can be for a divorced individual's future. We can help individuals with all different sorts of property division matters.
What things it can be important to consider in relation to the issue of property division in a divorce is in part dependent on what assets are in the divorcing couple's marital estate. Certain types of assets give rise to some special considerations beyond the typical ones. One of these types of assets are retirement benefits.
Some of the added considerations that can arise in relation to the division of retirement benefits center on the fact that divisions of retirement benefits in a divorce will generally involve a special type of court order called a qualified domestic relations order. There are various different issues that can come up in relation to QDROs, and making sure such issues are addressed properly can be vital.
Another of these special considerations is a tax consideration. Early distributions of certain types of retirement benefits can have significant tax consequences. Thus, one thing that can be important to keep in mind when considering a given way of dividing retirement benefits in a divorce is: would this division method trigger an early distribution?