Retirement Benefits Division Attorney in Lake County, IL Managing Division of Retirement Assets in Bannockburn, Cook County, DuPage County, Will County, and Throughout Northeastern Illinois
You spend decades saving for retirement, but it could all be at risk in the event of a divorce. You need a Bannockburn retirement assets lawyer to ensure that you get or retain the retirement assets you’re entitled to.
At the Katz, Goldstein & Warren Law Firm, focused protection of our clients’ rights to retirement plans and benefits is just one of the comprehensive family law services we provide. Our team is prepared to explore all avenues for achieving a resolution that’s beneficial to you. Contact us today for a confidential initial consultation.
Figuring Out Divorce and Retirement Benefits in Bannockburn, Illinois
In Illinois, complex laws and regulations govern the way retirement accounts, retirement plans, and other retirement benefits are handled in divorce proceedings. Special rules might apply in matters involving military personnel, federal employees, and certain other workers.
Understanding and carefully considering these assets during the divorce process is essential for your financial future. Making sense of these laws and how they apply to your unique circumstances often requires the knowledge of an experienced retirement benefits division attorney in Lake County, IL.
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224-422-2694Types of Retirement Benefits That Can Be Divided in a Divorce
Retirement accounts and benefits that might be divided in a divorce include, but are not limited to:
- 401(k) accounts
- IRA savings accounts
- Pensions
Different rules and procedures may apply to the division and distribution of assets in different types of retirement plans and benefits. Your Bannockburn retirement assets lawyer can help you understand the intricacies and implications of the different types of retirement plans and benefits and how a divorce can affect them.
Equitable Distribution in Illinois Divorces
In many cases, retirement plans and benefits comprise a large percentage of the property owned by the divorcing spouses. This means your retirement savings, like other property, can be divided between you and your spouse.
Under Illinois law, marital property division is conducted according to equitable distribution rather than equal division principles. That means you and your spouse may not split your retirement savings (or at least the portion of it that constitutes marital property) evenly. Instead, one of you may receive considerably more of one or all retirement assets than the other in accordance with what constitutes fair or equitable distribution when considering factors such as overall financial circumstances and potential for future earnings.
In determining what constitutes an equitable division of retirement savings and other assets in a divorce, you need an attorney with extensive experience advocating for your best interests.
How the Katz, Goldstein & Warren Law Firm Can Help Preserve Your Retirement Security
At the Katz, Goldstein & Warren Law Firm, our divorce attorneys have extensive experience preserving our clients’ rights to the retirement assets they’re entitled to under the law. We’re familiar with the terms under which all retirement assets can be property considered as part of any divorce settlement or litigation strategy.
Identifying All Marital Property
Determining what is and is not marital property, among retirement plans as well as other assets, is an essential part of securing you a favorable outcome to divorce disputes. This data can inform our strategy in several ways, from ensuring your spouse isn’t trying to hide income to which you’re legally entitled to evaluating what other compromises might be negotiated to secure a greater portion of the marital retirement assets.
Exploring the Full Range of Options
When you’re most concerned about your retirement benefits, you don’t want your options for approaching divorce disputes limited in any way. With a Bannockburn retirement assets lawyer at the Katz, Goldstein & Warren Law Firm on your side, you can pursue any method of resolving your disputes that fits your and your spouse’s situation.
From mediation, collaborative law, and settlement negotiations to formal divorce litigation and trial, we’re prepared for whatever path your case takes.
Why Choose the Katz, Goldstein & Warren Law Firm?
Our blend of experience, dedication to results, and compassionate service makes the Katz, Goldstein & Warren Law Firm the clear choice of retirement benefits division attorney in Lake County, IL.
- Extensive experience: For decades, we have been the go-to family law firm spouses turn to for help preserving their right to retirement benefits during divorce proceedings.
- Dedication to results: We know how much the consequence of divorce settlements can affect your future, so we always put your priorities and best interests first. If your retirement assets are your top concern, we’ll help you explore all options for achieving the most favorable outcome possible.
- Compassionate service: Throughout the divorce process, we’re here to provide the compassionate support and trusted guidance you depend on. We will get you through this difficult time and put you on the path to a new beginning.
Contact a Bannockburn Retirement Assets Lawyer Today at the Katz, Goldstein & Warren Law Firm for an Initial Consultation
Having an experienced Bannockburn retirement assets lawyer protecting your interests in the divorce can give you much-needed peace of mind during such a stressful time.
For help from a retirement benefits division attorney in Lake County, IL, contact the Katz, Goldstein & Warren Law Firm online or call us today.