The end of a marriage can bring about a lot of uncertainty. Couples who find themselves in this situation are forced to think about issues such as child custody, child support and division of marital assets. Unfortunately, one of the most hotly contested matters that couples heading for divorce have to resolve is how retirement accounts are going to be distributed. Obviously, because retirement accounts represent security long after the relationship is over both parties want to preserve their future as much as possible.
In the State of Georgia all contributions made by either party during the marriage to a retirement account are subject to equitable division. Equitable division is not simply an equal split of the marital assets. Instead the Court will look at the future financial situation of each spouse after the termination of the marriage. All accounts in which monies are contributed towards retirement fall into this category, including pensions. However, contributions made into the retirement account prior to the marriage are not subject to equitable division.
Often times the couple is able to resolve these conflicts without taking the issue before the Court. The conflict resolution process in divorce cases is just like any other type of dispute resolution, each party has to determine what they value most and negotiate accordingly. At the Faucette Law Firm we assist clients with all divorce, custody, support and modification related matters. Our law firm services Atlanta, Douglasville and Marietta. Contact our law firm today for a consultation.