How To Properly Divide A 401(k) Plan In Divorce

Over the years, 401(k) plans have become an increasingly popular way for Americans to plan and save for the future. These defined-contribution pension accounts can hold the majority of a person’s retirement savings. That’s why divorce can be such a threat to financial security: under Georgia law, 401(k)s are often considered marital property and must be divided between the spouses.

Based in the greater Atlanta area, The Siemon Law Firm is one of the largest family law firms in Georgia. Because of our size and respected reputation, we have access to the state’s top financial experts. Dealing with tax implications of property division and different benefit plans is quite complex, so we partner with highly experienced tax and accounting professionals to ensure that our clients’ issues are addressed in the most efficient way.

We understand your concerns about losing so much of what you have diligently worked for and saved. Our attorneys will do everything possible to protect your interests and preserve your financial security.

Using QDROs To Divide Accounts Without Tax Penalties

The division of a 401(k) plan is accomplished by means of a qualified domestic relations order (QDRO). This court order will generally divide assets without any tax liability or penalties. However, the tax law changes frequently, as does Georgia’s family law. It is important to consult a qualified attorney for up-to-date advice about dividing 401(k) plans and other financial assets in divorce.

Choosing a dedicated and experienced legal advocate can help you make the most out of a difficult situation. Our divorce lawyers are here to thoroughly assess your financial challenges and aggressively protect your rights.

We go to mediation on a weekly basis and are very familiar with the significant benefits of coming to a divorce settlement outside of the courtroom. However, if your interests are better served by going to trial, you can count on our skilled litigators to vigorously champion your case before the judge.

Contact Us

Arrange a confidential and personal consultation with one of our lawyers by calling The Siemon Law Firm at 770-888-5120 today. You can also contact us online. We serve clients throughout Greater Atlanta, with four office locations in Alpharetta, Atlanta, Cumming and Marietta.