Your Estate Plan, Your Retirement Account, Your Divorce

I have written often that certain life events require the review of a couple’s Estate Plan.  Life events include marriage; relocation; births; acquisition of a significant asset; relocation; deaths and DIVORCE. A previous post considered what might happen in circumstances of “almost divorced.”

Since pensions and retirement accounts are often an integral part of an estate plan, it is critical to explore the division of retirement assets when a divorce is pending.

In a recent Squared Away blog (February 17, 2015) titled “Breaking Up (the Pension) is Hard to Do”  (http://squaredawayblog.bc.edu) the topic of divorce and retirement/pension plans is covered with insight. The article references Howard Phillips a Florida actuary and author of “Dividing Retirement Assets in a Divorce”.  It explains about dividing 401(K), 403(b) and IRA accounts using methodology terms such as “tracing accounts”, “subtraction”, “coverture”, “carve-out” and “values offset” among other terms.

When divorce is imminent and review of an existing Estate Plan is advisable, pensions and other retirement accounts require careful professional consideration.

Working to Preserve Your Wealth and Protect Your Future…in a Constantly Changing World

Please read my full disclaimer below and also the column How I Can Help You

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About Attorney Barbara Ann Dalvano

Attorney in Denver, Colorado with extensive practice experience in the areas of Estate Planning, Wills and Trusts, Business Succession Planning, Probate, Contract Law.

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