3652 Hector Lane
Naperville, IL 60564

(630) 470-9990
Contact us, today!

Retirement Plans: Are They Subject to Property Division?

retirement-plans-are-they-subject-to-property-division-feature-image

When couples think about property division in divorce, they think about tangible goods: The marital residence, cars, and furniture. However, there is something significant most overlook: Retirement accounts.

Retirement accounts – at least a portion of them – are often considered marital property. As such, you may be entitled to a portion of your spouse’s retirement plan as part of your divorce settlement.

How Retirement Plans Function in Divorce

You must disclose your retirement plan as part of the discovery process. Doing so will show your spouse what is in your retirement plan at the time of divorce and statements will reveal how much has accrued in it during your marriage.

If you aren’t sure about what’s in retirement plans from old employers, it’s important that you obtain appropriate documentation. After all, it’s easy to forget about an old account that was opened years ago when you began work at a certain position. And, because the same might be true for your spouse, it’s important that you’re both thorough when you’re obtaining documentation.

Are Retirement Plans Marital or Non-Marital Property?

Remember, only marital property is subject to division in divorce. This means that if your spouse had a certain amount of money in his or her retirement account before marriage, that portion of it is likely non-marital and won’t be subject to division. However, money that has accumulated during marriage is typically subject to division.

As you can imagine, it isn’t simple to generalize what is marital and what is non-marital without considering the unique details of your case. Sometimes, it’s necessary to involve a financial professional to determine the value in the accounts should they be both marital and non-marital property.

Contact the Team at Lawrence R. Surinak Ltd. 

At Lawrence R. Surinak Ltd., we rely on over 35 years of divorce and family law expertise to ensure a fair, equitable division of your marital property.

Contact Larry to take advantage of your free, 30-minute consultation by calling 630-470-9990. If you prefer, you may also request an appointment online. We look forward to speaking with you and offering our expertise regarding any retirement account concerns you have in your case!

Concentrated on Family Law

Lawrence R. Surinak Ltd. is a law firm concentrating solely on family law and has served clients in DuPage, Will, Kane, and Kendall counties for over 35 years.

Schedule a Free Consultation

If you need advice, help, want your questions answered or need representation, complete the form below and click the Submit button to request a free 30 minute confidential consultation.

A member of our firm will review your information and contact you within 48 hours to schedule in your consult.

If your request is urgent or time critical, please call our office on (630) 470-9990

Contact Us

  • We will not contact you by email unless you specify this as your preference.
  • Please describe your situation or the legal services you're interested in.
  • This field is for validation purposes and should be left unchanged.

About Attorney Lawrence R. Surinak Ltd.

Lawrence R. Surinak Ltd. is a law firm concentrating solely on family law and has served clients in DuPage, Will, Kane, and Kendall counties for over 35 years.

We continue to work with clients in Naperville, Wheaton, Lisle, Oswego, Downers Grove, and the surrounding areas to provide one-on-one support and attention that will help you through this difficult time.

If you have any questions or concerns, please feel free to contact us at any time. We look forward to offering our expertise and support to you throughout your case and after.