DuPage County Divorce Lawyers for Protecting Retirement Accounts

Skilled Division of Assets Attorneys in Warrenville, Illinois

Over the last several decades, saving for retirement has become a personal responsibility, as employment-related pensions have become relatively uncommon. This means that more people are taking the initiative to put their hard earned money away for the future. Divorce, however, is a life change that can alter your plans drastically, so it is important to be prepared. With assistance from a DuPage County divorce lawyer, you can navigate the challenges of dividing retirement assets.

At Calabrese Associates, P.C., we aid you in protecting your financial security for retirement. Our attorneys have the knowledge and experience to help with dividing retirement assets, working to avoid penalties for earthly withdrawal.

Warrenville Lawyers Knowledgeable in Property Division Laws

According to Illinois law, virtually all property, assets, and debts acquired by you or your spouse during your marriage are considered marital property, regardless of who earned or acquired them. Retirement savings and investments are no different. Any resources you have put aside in a 401(k), 403(b), IRA account, or a pension plan, are marital property if they were acquired after you were married (unless explicitly addressed by a prenuptial or postnuptial agreement). Our attorneys assist you in determining how much, if any, of your retirement savings may be exempt from the division of asset process.

We are also equipped to help you evaluate your retirement savings and investments. With compounding interest formulas and various contribution sources throughout your working years, determining the true value of these assets can be complicated. When necessary, our lawyers work with financial experts and industry professionals to establish the worth of your retirement investments and what portion is subject to division.

Protecting Your Assets and Your Future

The experienced team at Calabrese Associates, P.C. has been helping families around the area with divorce matters for more than 20 years. We realize a negotiated settlement is most often in the best interest of all involved parties, and we will assist you in developing an agreement that meets your needs. If dividing a particular retirement account is required, we draft the necessary documents, including a Qualified Domestic Relations Order (QDRO) or Qualified Illinois Domestic Relations Order (QILDRO), to facilitate disbursement by your financial institutions.

When necessary, our attorneys are willing and able to advocate on your behalf in litigation. In some cases, a negotiated settlement is not possible, and we are prepared to take your issue into the courtroom.

How Equitable Distribution Affects Retirement Asset Division

When retirement assets are divided in a court of law, judges adhere to a principle of division known as equitable distribution. Under this standard, your shared retirement assets will be split in a fair manner between you and your spouse. The judge will consider the totality of your circumstances, factoring in your age, health, the length of the marriage, and your employment prospects. At Calabrese Associates, P.C., our lawyers can make a case for a favorable split of assets on your behalf, taking into account your needs as you approach retirement age.

Contact Our DuPage County, IL Retirement Asset Division Attorneys

No matter how far away your retirement is, you should take steps to safeguard the assets that you have saved up. If you are considering divorce and have questions about protecting your retirement assets along the way, contact our office. At Calabrese Associates, P.C., we are committed to serving your best interests and will help you seek the favorable outcome you deserve. Call 630-393-3111 to schedule an introductory consultation today. From our offices in Warrenville, Illinois, our firm is proud to serve clients in Naperville, Wheaton, Aurora, Winfield, Carol Stream, Downers Grove, and all of DuPage County, Kendall County, Kane County, and Will County. Se habla español.