Kane County Asset Protection Attorneys
Divorce Lawyers Assisting Clients with Savings, Retirement, Investments, and Asset Distribution
During a divorce proceeding, identifying and dividing marital property are often hotly contested issues. These considerations can be especially complex when they involve long-term investments, savings, and retirement plans. The property division attorneys at Mirabella, Kincaid, Frederick & Mirabella, LLC, have decades of combined legal experience, and we possess the knowledge and skill to help you get the property settlement you deserve.
Illinois Equitable Distribution Attorneys
According to the law in Illinois, marital property must be divided equitably in a divorce, not necessarily equally. Each spouse is awarded a portion of the marital estate based on consideration of a number of factors, including income, age, length of marriage, each party's contribution to the estate, arrangements for any children and many others. When dividing property, each asset must be identified as marital or non-marital and have its value determined. For some assets, such as retirement savings and investments, determining the status and value can be quite complicated.
Calculating the value of a retirement account or long-term investments requires the skills of an experienced accountant or financial professional. At MFKM Law, one of our managing partners, Attorney George Frederick is a degreed accountant who is equipped to help you with valuating your assets. If you began saving for retirement before you got married, we can also assist you in determining how much of your savings should be subject to division in your divorce.
Property Division and QDROs in Elgin
In most Illinois divorce cases, a trial is not necessary. The skilled negotiators at Mirabella, Kincaid, Frederick & Mirabella, LLC, are usually able to broker a workable agreement that protects our clients' financial security. When a retirement account is divided, the financial institution that holds the account will often require a qualified domestic relations order, or QDRO, to ensure the assets are disbursed properly to the correct party. Our attorneys will help determine if a QDRO is needed, based on the circumstances of your case, and will prepare all of the necessary documentation.
Call 630-665-7300 Today
For more information about dividing retirement savings, accounts, or investments in a divorce, contact the offices of Mirabella, Kincaid, Frederick & Mirabella, LLC. Call 630-665-7300 and speak with a qualified divorce lawyer about the complexities of your situation. We are proud to serve individuals and families in St. Charles, Geneva, Elgin, Batavia, Barrington Hills, Aurora, and the rest of Kane County. Let us show you how we can help you.