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Dividing Retirement Account Assets in Eugene and Lane County

When a couple goes through divorce in Eugene, Oregon, their property must be equitably distributed between the two parties.  Most people are familiar with the fact that money in bank accounts, houses, and cars must be fairly divided between the couple.  However, retirement accounts are one area of division that many people are not accustomed to considering. Retirement benefits are not the sole property of the person who earned them: instead the deposits and interest accrued during the marriage must be shared by both spouses.  If you are going through a divorce in Lane County where a retirement account will need to be divided, we highly recommend hiring one of the most qualified family law attorneys Eugene has to offer.   Veralrud and Fowler has attorneys with the kind of experience in divorce proceedings that you need and they will help ensure at all assets of your marriage are fairly divided.

Divorce in Eugene: Determining Marital Property

The first step to determining how your retirement will be distributed is to define what portion of the total amount is marital property. Any earnings that were accrued before the marriage began are not considered marital property and would remain with of the holder of the retirement account. The earnings that were added to the account inside the marriage would be considered for equal distribution. It is crucial to have the most successful family law attorney Eugene can provide when determining how much of your retirement account is marital property. At Veralrud & Fowler, we will work tirelessly to ensure that you receive the amount of your retirement assets that you are due.

Defined Contribution Retirement Accounts

It is important to note that the type of retirement account you are in possession of will determine how it is distributed between both spouses.  With a 401K retirement account, or other defined contribution plan, the balance of the account will determine how much will be distributed between both parties. Any earnings pre-dating the marriage will be the property of the account holder. A defined contribution plan is relatively easy to divide in a divorce.

Pensions and Benefit Plans

Other retirement plans such as pensions and benefits plans are more difficult to distribute between spouses in a divorce. In the case of pensions and benefits plans, your Eugene family law attorney will use a formula specially designed for determining asset division in divorces. Having the most successful family law attorney Eugene has to offer will go a long way to ensuring that your retirement account is fairly divided. Without a qualified Eugene family law attorney on your side you may not receive the portion of your retirement that you are due.

Hire a Qualified Eugene Family Law Attorney

At Veralrud and Fowler, we are experts in family law. Our lawyers specialize in asset division in divorce and will fight tirelessly to ensure that you receive your fair share. Divorce proceeding are highly stressful and emotional, so we operate with compassion and discretion. Asset division can be one of the most contentious parts of a divorce, so having the right attorney on your side can make simplify the process and make it fair for everyone. The family law attorney in Eugene you hire from our firm will be your advocate in fairly dividing the assets of your marriage. Don’t go through the divorce process alone: call or email Veralrud and Fowler today.

Give Us a Call at 541-345-3333 for a Free Consultation About Your Case or Send Us an Email Below

975 Oak Street, Suite 798

Eugene, OR 97401

Phone  (541) 345-3333
Fax  (541) 342-1908

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