When caught in the whirlwind of emotions that ensue during a divorce, the distant future is the last thing you wish to worry about. After all, dealing with the present induces enough heartache. Unfortunately, when going through a divorce in California, discussing the future is unavoidable, since the impact of separation continues for many years. This is especially true when it comes to dividing up assets between you and your spouse since those assets also include your pension. After diligently building up a retirement fund from your hard-earned salary, finding out that you could lose a large portion of that can weigh heavily on your already burdened shoulders. On the other hand, the stress is equally as unbearable if you were unable to work during your marriage and could not gain a pension. Perhaps you devoted several years and countless hours to the care of your children and the management of your household, only to find yourself worrying that you might not be able to afford retirement for yourself. Seeking a chance at peace and a new life through a separation should not be met with the punishment of losing out on the secure future you worked hard to deserve. However, this is the sad reality many faces during pension division in California. And that is why Christian Schank scoured Riverside to build a team of divorce lawyers who were not only skilled in family law but equipped with a solid financial background and knowledge of pension plans and retirement funds. With this expertise in our arsenal, we are armed for even the most complex and heated pension divisions Riverside courts have seen. But we want to make sure that you receive your best match possible, and thus offer free consultations so you can decide before any fees rack up.
Pension division in Riverside is complex and stressful, especially since California is a community property state. This means that all property that you and your partner gained during the marriage belongs to the “community,” or the two of you, including retirement funds and benefits. Although many believe that this means that the pension is divided 50/50 during a divorce, the true formula that the judge will use to decide on this amount is more intricate than that. Often, pension plans consist of a blend of community and separate property, thus the whole amount is not typically split in half. Not only that, but it is often impossible to simply split retirement funds in two since many of them include steady payments that continue after the employee stops working. As stated before, the judge will use a formula to determine the way in which the pension will be divided between the partners, which is determined based on your specific financial and employment information. Our pension division attorneys have been through this exact process within Riverside county courts countless times before, and thus know the specific details that will go into the judge’s decision. We are experienced in financial calculations and will fight for every penny you deserve. Of course, we can also help open doors to other options that allow you to keep the majority or even the entirety of your retirement fund by offering up other, lower-value assets that may appeal to your former spouse. Remember, you are first and foremost working with people, not Riverside divorce laws or pension division policies. People can be persuaded and alternatives can be discussed that may not be typical of California pension division. And that is why we’re here. Through tactful, innovative negotiation, we can strive to come to a conclusion that provides you with the least amount of stress and long-term happiness.
The forms required of divorcees are often the source of the greatest amounts of intimidation from our clients, specifically the infamous QDRO. It asks questions regarding your salary, current and past employment, and the constituents of your pension, 401(k), or other retirement plan. It also requires that you calculate the formula that the judge will use in his final decision. This is determined with the type of plan, timing of payments, length of the marriage, date that the funds began accumulating, and so on. It is essential that every detail on this form be filled out correctly, or you can risk losing great amounts of money. The state of California advises those going through a divorce to consult with a pension division attorney before filling out these forms to save you from unforeseen and troublesome consequences in the future. Since we have seen multiple clients through several pension division cases, we can match you with a lawyer who is experienced in situations similar to your own and can provide personalized guidance. We will review your forms before the judge lays eyes on them, ensuring that every base is covered and every aspect is correct. We know the errors that are common on the QDRO, and can easily identify them. Thus, please give us a free call so we can begin strategizing with you and building a solid case today.