Dividing Pension and Retirement Benefits During Divorce in Georgia
At the Law Office of Samuel E Thomas, our experienced lawyer utilizes every available advantage to ensure our clients are treated in an equitable manner in divorce. This includes all-too-often overlooked assets such as pensions and other sources of benefits.
Whether you have modest assets or are involved in a high asset divorce, we recognize this is one of the most stressful times in your life, so we give you and your case the time and attention you need. From sitting down with you and giving you direct answers to your questions, to conducting in-depth investigations to make certain benefit packages and all other assets are accounted for, you will have one of our trusted attorneys with you at every stage of your case.
Although some issues in a divorce, such as child support, can be modified at a later date, benefits cannot. If you do not obtain your share of pensions and retirement benefits before your divorce is finalized, your right to them is gone forever. Pensions and retirement benefits are assets not easily replaced, especially when you face divorce later in life. We work hard to ensure this does not happen to you, and you receive an equitable division of the community pension and retirement benefits package.
According to Georgia Law, all contributions made by either spouse into any retirement plan will be subject to equitable division. However, you can subtract the contributions you made before the marriage.
So, if your spouse has an employer-sponsored plan you are entitled to half of the benefits. The method of payment will be decided once an agreement has been reached between both spouses, then the account owner forwards the documents to the plan administrator.
The pension and benefits are dividing using a QDRO. In case you reach an agreement with your spouse before the trial (Along with your attorneys), you are saved from the hectic court proceedings. However, if it comes to the court, we are here to fight for what’s rightfully yours.
If you go to trial in a divorce, the judge will try to adjust the division of marital assets in such a way that the retirement benefits aren’t needed to be divide, as it will make the process more complex. Retirement and pension benefits acquired during the marriage are considered marital property and are subject to equitable division.