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Property Division and Retirement Benefits

Getting a divorce? You are likely in the process of sorting your property from your spouse's property. What you may not be aware of is that benefits that you and/or your spouse receive may also be considered property that is divisible during a divorce trial. Depending on what state you reside in, certain benefits can fall under the category of community property. As such, they can be split equally between both partners no matter who earned them. These benefits may include but are not limited to: ERISA plans, Employee Stock Option Plans, 401K and 403K, military pensions and Keogh's plans.

There are certain benefits that will not fall under the umbrella category of community property. These include compensation for injuries sustained in the military, social security payments, and disability awards for workers' compensation claims. Whether you have been married for one year or ten years, you will need to consider the division of retirement accounts as an essential part of your divorce. Become aware of North Carolina property division laws by contacting Hopper, Hopper & Mulligan, PLLC today to set up a time to speak with a knowledgeable Raleigh family lawyer from our office.

Categories: Divorce, Family Law

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