For older people divorcing after a long marriage, concerns about retirement savings are paramount.
If you were the primary wage earner, you may be responsible for the vast majority of the nest egg you’ve built.
Unfortunately, retirement savings that accrued during the marriage are considered marital property, and will be subject to distribution.
This doesn’t mean you’ll be left without retirement savings, but you should anticipate that some of the value of your 401(k), pension, IRA, and other retirement vehicles will be lost in the divorce.
What most people don’t necessarily understand is that in a divorce, everything is negotiable.
While your spouse may want a large share of retirement savings, you may be able to reduce this amount by being flexible with other elements of the settlement package.
When you work with an experienced Queens divorce attorney, you stand the best chance of protecting as much value as possible in your retirement accounts.
Call the attorneys at Zelenitz, Shapiro & D’Agostino today at 718-523-1111 for a free consultation.