6 June 2013 0 Comments

Do I have to share my retirement account with my ex?

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Today, most couples, even if they are not considered wealthy, own their own home, one or two vehicles and most likely have retirement accounts. How these assets are valued and divided is something you don’t want to leave to just anyone.
Property division is a key aspect in divorce cases.

According to California Family Code Section 760, California is a community property state – meaning property acquired during a marriage is divided in a manner that is just and fair. If the couple cannot come to an agreement on their own, they can take the matter to court. Seeking the guidance of a divorce attorney will help during the court proceedings, and facilitate the division of any assets.

Now, you ask about your retirement account. When a married person accumulates an interest in a retirement account, the part that was accumulated during the marriage becomes community property and is subject to division in the dissolution. The owner of the account can either pay the other spouse his or her share, or the court can decide how it will be divided.

When you are going through a divorce, it can be difficult to focus on your future. Divorce is never an easy process and the decisions you make during the process can affect you and your family in the future.

You will have many choices and decisions regarding your divorce, including property division and your retirement account. If you cannot find the strength to make these difficult decisions on your own, call the Riverside Offices of Holstrom, Sissung, Marks & Anderson, APLC for an experienced attorneys who can help.

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