Division Of Retirement
In many Kansas divorces, one of the most complex aspects of the proceeding is the division of retirement accounts. Pensions, simplified employee pensions (SEPs), thrift savings plans (TSPs), 401(k) plans and other retirement assets can be among the most valuable assets in the marital estate.
Under Kansas law, retirement accounts are considered marital assets. Even if the account was established under one spouse’s name prior to the marriage, the amount that the account increased in value can be divided in a divorce. These are complex cases that require the attention of a reliable Kansas lawyer. At the Law Offices of Ankerholz and Smith in Johnson County, we have a substantial background with cases involving the division of retirement accounts, and our divorce attorneys utilize proven strategies to ensure a fair division of all eligible assets.
The division of nearly any account under an ERISA-qualified plan can be divided through the use of a Qualified Domestic Relations Order (QDRO). QDROs are used by the court to transfer funds from one spouse’s retirement account into the other’s. QDROs are submitted to the plan administrator for approval and can be rejected if they are not completed correctly. There are a number of key factors that need to be considered in determining the correct amount of funds to be transferred. We will work to secure a division that provides the most benefit for our clients and assist with the completion of the QDRO and submission to the plan administrator.
Contact our Overland Park family law firm to discuss your retirement account division questions with a lawyer. You can reach us by phone at 913-800-6071 or contact us via email to schedule an appointment.