In Connecticut, in addition to your marital home, other joint-tenancy holdings, financial interests and personal property, retirement benefits earned by each spouse before and during a marriage are subject to equitable division upon divorce. If spouses cannot agree to what that equitable division looks like, the court may assign retirement benefits as it deems fair and equitable.
Before an equitable division of assets occurs, an appropriate method for valuing the asset is assigned, and the court determines what is the most equitable distribution of that property between the divorcing spouses.
Accuracy is key to the valuation process of marital assets, especially retirement benefits. There are many types of retirement assets, including:
- Pension plans
- Defined benefit plans
- Stock ownership plans
- Deferred compensation plans
- Individual retirement accounts (IRA)
- Profit-sharing plans
At Siegel & Kaufman, P.C., we have experience with all of the various retirement schemes, especially in high net worth divorces, and we have the experience you need when it comes to the division of retirement assets in your divorce.
While it can be the most complicated aspect of the divorce process, our firm focuses our practice on these cases, and all our attorneys have highly developed skills in this area of divorce law.
We meticulously work to get all the details from you to efficiently protect your spousal rights and best interests going forward in obtaining the best outcome possible. Our attorneys carefully weigh out and discuss with you the advantages and disadvantages of whether valuation should be using the offset method, present division method or reserved jurisdiction method. We strive to get spouses to come to an agreement about division of their retirement benefits outside the courtroom. However, we always prepare cases as though we will have to aggressively litigate in court.
At Siegel, Colin & Kaufman, we have the resources to work tirelessly on your behalf. We understand the complexities of dividing retirement assets and can help you get the results that work best for you.
Make an appointment to speak with a lawyer privately by calling our Stamford office at 203-326-5145 or by completing our online form.