Get Help With Investment & Retirement Funds in Michigan
Okemos Divorce & Property Division Lawyers
Dividing Marital Assets, Investments, Retirement Funds, and Finances in Michigan
The division of property is one of the most complicated parts of any divorce, particularly when it comes to dividing investment and retirement funds. At Bailey & Terranova, our experienced property division attorneys can tell you how these types of property are likely to be divided. We work closely with our clients to determine the short-term and long-term benefits and drawbacks of divorce asset protection.
What Property Is Subject to Division?
Michigan is a marital property state, which means that property is not necessarily divided 50-50 during a divorce. Rather, property is meant to be divided as fairly and equally as possible. Physical assets are not the only things subject to property division; monetary assets will be divided as well. These assets include:
- 401(k), 403(b) assets and other forms of deferred compensation
Our dedicated divorce attorneys will look over your finances to determine what is subject to division and let you know what your options are for protecting your valuable assets. Valuation and Tax Liability
Proper valuation of your investments and retirement funds is the key to ensuring that property is equitably divided, particularly when your divorce involves complex marital estates. Our lawyers at Bailey & Terranova work with forensic accountants to gather a full picture of what is considered separate property versus marital property.
There are important tax considerations to bear in mind when dividing investments and retirement funds. Retirement accounts must be divided by qualified court orders that comply with IRS regulations. Our diligent attorneys know how to avoid costly tax blunders which may result in unnecessary tax consequences. Do not trust your hard-earned nest egg to the hands of an inexperienced lawyer.