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Secure Your Financial Future by Considering Your Retirement Plans During Your Divorce Settlement

About Jay D. Raxenberg

Not just any divorce attorney. Learn what makes Jay D. Raxenberg Long Islands choice for Divorce Law.

Why Choose Us?

Find out what sets us apart and what you should be looking for when choosing a family law attorney.

Divorce Do's and Dont's

Find out what you should and shouldn't do during the divorce process.

Getting a divorce has many financial effects, one of which is a change in your retirement plan.  The NY times recently posted an article regarding this topic entitled, “Retirement Plans Thrown Into Disarray by a Divorce.”  Divorce will most likely have an impact on your retirement plan as your assets are divided and your expenses as a single adult rise.  Additionally, if you are divorcing later in life, as many Americans tend to, there may not be much time left to enhance your portfolio.

The New York Times advises hiring a good attorney in order to fight for the best settlement you can possibly get.  Going through a divorce is a highly emotional time period and if you are doing it alone, without the help of an attorney, you may be focusing on financial issues in your present, not your future.  A knowledgeable divorce attorney will make sure to include retirement plans into your settlement.  The New York Times also advises hiring a financial planner.  These planners can help you to maximize your tax-free distributions, and to figure out the best retirement plan for you.  Oftentimes certain assets can be forgotten about during the divorce process, and by hiring an attorney and a financial planner, you can be more confident that you will have all your bases covered in that regard.  Additionally, it could be beneficial to consider hiring forensic accountants or other experts if you suspect that your spouse has some hidden assets.  If you do not uncover and address all assets during the divorce process, unfortunately, you may not be entitled to your fair share when they are uncovered later.

During the divorce process, many individuals are focused on their current financial issues, and their financial futures often get overlooked.  By being prepared and hiring the right people, you can end up saving thousands of dollars down the road, and have some peace of mind and security regarding the future of your finances.

If you are considering filing for divorce or want to speak to a knowledgeable and experienced Long Island divorce attorney to discuss your options, please contact the Law Offices of Jay D. Raxenberg.

Call (516) 491-0565 or toll free at (888) 543-4867

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