When negotiating the division of marital assets, many people mistakenly believe that their house is their biggest asset when it may actually a retirement or pension account, or even a collectible item. Even if your retirement account is less than robust now, the court will likely consider its future value when dividing assets. There are many ways to divide your portion of your spouse’s retirement asset (called a qualified domestic relations order) so give that due consideration. Until the divorce gavel drops or the mediator gets an agreement, everything is negotiable. Knowing the real value of your larger assets will help you to negotiate your exit from marriage. As always, every situation is unique. This series is intended to “start the thinking process” to take emotive choices out of a hard situation. Everyone’s situation is different, and this is not intended as legal advice. Please, speak to a divorce attorney prior to making any decisions, especially decisions based on a simple blog post. There are many mitigating factors that will go into the final divorce decree.
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