Don’t Overlook Your Retirement Funds
When a married couple goes through a divorce, taking stock of the assets the couple has is one of the most important tasks. While some of those assets may be tangible — real estate, automobiles or a family business, for example — others may show up only on paper. However, these can be some of the largest assets a couple has.
Retirement accounts can represent a large part of a couple’s net worth. Decades of savings and retirement planning can reside in those accounts — ones Melbourne couples need to account for when going through a divorce. Shawn Reid, Attorney at Law, is an experienced divorce attorney who will aggressively protect your retirement assets in a divorce.
You Could Be Sitting On A Substantial Amount
Unless you are nearing retirement, or have kept careful track of your investments, you may not realize how much you have in your retirement accounts. Employers have made it easy to automatically invest part of your paycheck, and you may not realize how that investment has grown over the years.
You or your spouse could have accounts in such investment vehicles as:
- IRAs and Roth IRAs, which could include mutual funds, annuities and brokerage accounts
- 401(k) or 403(b) plans
- Profit-sharing plans, stock options or company pension plans
Many people may have multiple investments spread over multiple accounts. Working with a lawyer such as Shawn Reid can make sure all these investments are accounted for in the event of a divorce.