Your Retirement Fund Is Not Off Limits In Your Divorce Settlement
Did you know not even your retirement funds may be off limits following your divorce? But how, and why? You’ve worked and saved for those retirement funds, why is he or she entitled to a share?
Well as Jeralyn Lisa Lawrence notes in a recent article, one former spouse has the ability to divide the other’s retirement accounts if the other has failed to pay alimony or child support in full and has accumulated arrears.
This is more of a deterrent, used in hopes of ensuring the party that is responsible for making support payments is indeed staying current with the required payments. Whether it’s for child support or alimony if payments aren’t made courts do have the ability divide one’s retirement accounts to ensure the other party’s needs are met.
When going through a divorce it’s critical that you understand your rights and the different provisions and avenues available to you should your former partner not meet and maintain his or her alimony or support requirements.
At Southern Oaks, it’s all about you, the client. The goal is simple – to provide the best possible service to each and every member of the client family. We understand that your legal matter is important to you, so it’s important to us. Give Taylor Fontenot and the Southern Oaks Law Firm a call today.