Division of marital home and retirement accounts

One of the largest assets an individual owns is the marital home.  The next largest asset, in many cases, is their retirement account(s) and their share of their spouse’s retirement account(s).  It is important to make sure that you will be receiving your fair share of the equity in the marital residence.  There are also times when the community has an interest in the residence that was purchased by their spouse prior to the marriage.  Sometimes a house has negative equity and this must also be addressed during the divorce proceedings.  At times, one spouse wants to keep the residence and the other spouse wants the court to sell the residence and divide the net sales proceeds between the parties.  The guidance of an experienced family law attorney can be invaluable regarding this issue.  Retirement accounts are divided during the divorce proceedings.  The division is usually accomplished by a Qualified Domestic Relations Order for each account.  These orders are prepared by a pension attorney and signed by the judge.  How the court decides to divide these assets is of great importance to the parties and the assistance of a family law attorney regarding these issues will help to insure that you are going to receive your full share of each assets.