When getting divorced, often the most valuable asset in the marriage is retirement. However, that asset is often divided UNEQUALLY…even when it seems like it has been divided equally. There are so many different types of retirement accounts, 401k’s, 403b’s, IRA’s, Pensions, etc, and within those different types of accounts, there are variables, such as vesting.
When facing the issue of dividing the marital retirement accounts, make sure you know what you are giving up, make sure you have looked at various resolutions…like perhaps a lump sum buy-out…because what if something happens and that retirement is no longer available in 10, 15, 20 years…what if the company goes belly up? Then what? It is all a coin toss…but make sure you know what you are tossing…dont make uninformed decisions.
by: Jennifer Segura