Many married couples plan ahead and count on assets set aside for the later years in life. However, amid all this planning, people might not count on divorce happening, which can have an impact on existing retirement assets. Knowing that retirement accounts aren’t immune from divorce proceedings, readers might be wondering: How will these assets be split? For the most part, this can be answered based on Alabama family law and when the assets in question were acquired. Alabama is an equitable division state, which means that marital assets are subject to be split in a way that is considered fair to each spouse. In some cases, this means that it might not be an even split. As such, retirement assets that are acquired during the course of a marriage are distributed in accord with state property division laws. Although this provides a very basic picture of how retirement accounts … Continue reading Retirement assets are subject to division during divorce
