Milwaukee Pension Divorce Lawyers for Retirement Investment
One of the most contentious matters of a divorce is the division of property, especially if one or both parties have many investments and high value retirement accounts. Many divorcing couples are overly concerned about immediate financial matters - such as a house, car or business - and fail to consider their long term circumstances.
At John T. Fields and Associates, we help our clients in Milwaukee, Kenosha, Racine, Madison, and throughout Wisconsin analyze their potential long-term financial circumstances beyond the divorce. Our Milwaukee divorce lawyers examine documents detailing investments, retirement accounts, and pensions in order to maximize a client's immediate and long term financial future.
If you have questions about the division of your investment and retirement accounts, call John T. Fields and Associates Milwaukee Divorce lawyers at 262-782-8322.
Pensions, 401Ks, and Roth IRA Funds in Divorce
The share of 401k and Roth IRA funds our divorce clients receive depends on the length of marriage, the amount of investments each party has, and other facts of the case. Federal law and individual pensions can affect the amount a spouse receives during a divorce. Wisconsin courts may not divide pension accounts in some cases. Our Milwaukee divorce lawyers will help determine if you have access to your spouse's employment and military pensions.
Added tax and financial complications often arise when considering long term accounts like pensions, 401Ks and Roth IRA accounts. These accounts are modified over the course of the marriage. Their ownership percentages will be contentiously argued in court. Dividing the investments in your favor requires financial expertise and legal savvy beyond your average Wisconsin divorce lawyer.
If you and your spouse share rights to marital assets, our expert Milwaukee divorce tax attorneys will ensure you don’t wind up paying someone else’s taxes or early withdrawal penalties. Properly handling these accounts can have a significant effect on your income tax if you are incorrectly credited for earning money which your spouse is collecting. When applicable, John T. Fields and Associates will procure a “qualified domestic relations order” (QDRO) to protect you from paying money to the IRS which your spouse is liable for.
Experienced Wisconsin Family Law Firm
There are many ways to increase your share of investment or retirement accounts. Our Wisconsin family law firm uses the experience gained over 25 years to maximize your share and protect your future when dealing with divorce.