Joliet Division Of Retirement Benefits Lawyer
Many individuals never stop to think that the retirement benefits they earn are subject to the same property division process as the home, business, cars and other assets. Retirement benefits can be very significant, often exceeding all other assets, including the home.
At The Law Office of Dawn R. Underhill, in Joliet, Illinois, we manage the division of every kind of retirement savings, including:
- Pension funds (both defined benefit and defined contribution)
- 401(k)s and 403(b)s
- Individual retirement accounts (IRAs)
- Simplified employee pensions (SEP-IRAs)
- Roth IRAs
- Profit-sharing plans
- Employee stock option plans (ESOPs)
- Salary reduction simplified employee pensions (SARSEPs)
Some of these instruments are relatively straightforward, but others can be extremely challenging because of the complexity of calculating values that constantly change with the markets. Retirement benefits accumulated prior to the marriage should be exempt from division; benefits earned during the marriage will be considered marital assets.
Make a mistake in valuing and dividing these financial instruments and money that should have gone to you goes to your ex-spouse instead. That’s why you should look to Joliet division of retirement attorney Dawn R. Underhill for solutions.
The Problem With QDROs
The courts make retirement division uniform by requiring qualified domestic relations orders (QDROs) or court orders acceptable for processing (COAP) for military benefits. Many lawyers are wary of doing QDROs because mistakes they make can result in a suit against them. The Law Office of Dawn R. Underhill is experienced and comfortable with QDROs. Because of our skill level, other attorneys sometimes refer QDRO cases to us.
If you are getting divorced and are concerned about doing division of retirement moneys right, contact Dawn Underhill at 815-290-0392, toll free 877-LAW-DAWN (877-529-3296).