Dividing Retirement Accounts in Divorce

In this show, we are going to get into a topic that people tend to ignore a bit, or take for granted.  They set it and forget it.  What I am talking about is retirement accounts.  Most people set up a 401k or are part of a pension plan, but do not pay that close attention to it after setting it up.  Then, when we get to a divorce, they just assume it will be divided and do not pay attention to the details. This is partly because they were in the habit of doing that while they were married.  They just had the money taken out of their paycheck and then did not think much about it afterwards.     When they pause on this issue, however, the gravity of the situation starts to sink in.  Often the retirement accounts are the largest or 2nd largest asset in the marriage, depending on how much equity is in the marital home.  Sometimes people panic because they think they are going to have to liquidate part of their retirement account to divide it up.  Fortunately, that is not the case.  Joining Leh and David is Matt Lundy, Esq.  He has dedicated his law practice to focus almost exclusively on dividing retirement assets in divorces.  He is licensed in multiple states and helps hundreds of people a year properly divide their retirement accounts after a divorce.