As most people know, planning for retirement is a lengthy and arduous process. When divorce is on the table, the future and uncertainty of your retirement quickly comes into question. Will you get to keep what you’ve world to accumulate or will the family law courts split those assets between you and your ex?
For today’s post, we’re going over key things to consider and get you thinking about your retirement assets during your CA divorce, as well as other financial assets.
Retirement Assets May Be Community Property in CA
When it comes to asset division, the golden rule centers around community property vs personal property. As the name suggests, community property is anything that the courts consider equally owned by both spouses in a marriage. This typically includes everything that has been accumulated throughout the duration of the marriage and yes, this can include retirement benefits and other accumulated assets that may not necessarily be directly tied to straight cash or property.
Get Insight Into Potential Outcomes with the Help of a Divorce Attorney
Each case is unique and every marriage has its specific set of property, assets, and resources. The best way to get an idea of what to expect is by consulting with an experienced attorney, someone who has helped navigate countless others through these issues.
Plan for the Financial Landscape Post-Divorce
Once you’ve gotten a solid understanding of what to expect, take account of those assets and resources that will remain largely intact or untouched. These resources can serve as the basic foundation for rebuilding your retirement, and you should prioritize further investing into these. Over time, many people are able to rebuild their retirement assets, but in order to do so it is key that you stick to a long-term plan and consult with professionals as required.
Learn more about this issue, and other family law matters by contacting an experienced family law attorney. You can reach our skilled attorneys at R & S Law Group at (949) 825-5245. Call today to connect with us and schedule a free initial consultation.