If our divorce agreement remains silent on the issue of division of retirement, do we each just keep our own retirement accounts or do we each automatically have rights to half of the other person's retirement assets unless we agreed differently?
To answer your question, both debt and property accumulated during the marriage are presumed to be marital for purposes of distribution upon dissolution. This generally may include rights to a spouse's retirement accounts as well as responsibility for some, if not all, of their debt, even if solely in their name.
Although where I practice you generally have a marital interest in half of each other's retirement assets, you will likely need to state explicitly that each of you will retain your own retirement assets or you may risk the court finding the distribution of the property to be incomplete.
Financial Advice On Divorce:How To Handle Retirement Plans
Given the aforementioned, I recommend that you speak to a mens divorce attorney who can assist you in including specific provisions in your settlement agreement, pursuant to your state’s divorce laws, to protect yourself and the property that you intend to keep solely for yourself.
Again, without express language to the contrary, a portion of your property, including your retirement assets, may be at risk.
Remember, I am unable to provide you with anything more than divorce tips for men. Consult with a local divorce lawyer for specific legal advice on divorce.
To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Jennifer de Lyon Stralka, a St. Louis divorce lawyer, contact Cordell & Cordell Law Firm.