An experienced divorce attorney can attest that the legal aspects of dissolving a marriage are complex, especially when it comes to the matter of retirement accounts. In Alabama, any assets acquired by either spouse throughout the course of the marriage that were used for the benefit of the marriage are subject to division in a divorce. Retirement accounts are considered marital property. Below, find out more about how these assets may factor into your divorce as well as the role a divorce attorney can play in ensuring these assets are fairly distributed.

Retirement Savings Earned Before the Marriage

Alabama law (Section 30-2-51) says that money saved in a retirement account before the marriage occurred is retained by the spouse who originally earned or received that money. However, a judge may still rule that premarriage retirement savings be divided if they find that the money in such an account was used to benefit both spouses during the marriage.

What Counts as Retirement Savings

In general, money accrued in a retirement account during the marriage can be divided between the divorcing spouses. Additionally, any interest accumulated on retirement accounts during the course of the marriage is considered marital property and subject to division.

How an Attorney Can Help

Your divorce lawyer will work to ensure marital property is split as fairly and equitably as possible. They will communicate and negotiate with opposing counsel and advocate for your best interests at every step. You deserve to walk away from a marriage with resources that are at least equal to what you contributed to the union; your lawyer will help make sure that happens.

Family law attorney William A. McWhorter has the experience and knowledge to advise you on how retirement funds may factor into your divorce settlement. For over 20 years, he has been representing St. Clair County, AL, residents in a variety of legal issues, including divorces, bankruptcies, and will and estate issues. Call (205) 338-4411 or visit his website to make an appointment with a divorce attorney today.