Updates- Divorce Law's Change Position on Retirement
Until recently, divorce courts did not have the option of dividing retirement accounts between the divorcing parties unless the parties had been married for 10 years. Effective January 1, 2018, this requirement has now been eliminated and retirement accounts accumulated during the marriage are to be treated the same as any other marital property. In fact, the court can even consider dividing retirement accounts accumulated prior to the marriage if a showing is made that the retirement account (or income produced from the retirement account) was regularly used for the benefit of the marriage.
Christopher L. George, P.C. wants to keep you updated on laws and other changes that could effect you. To learn more or recieve a free consultation, call today. 251-333-2233.