Previtera & Schimmel

A Member of Petrelli, Previtera & Schimmel, LLC

Your Family Lawyers
Schedule Your Consultation Today.
800-580-9136

Millennials and Divorce: Do Not Neglect Retirement Assets

The divorce rate amongst baby boomers is growing. This statistic has been covered by numerous news sources. Many of these publications focus on the importance of ensuring a fair split of retirement assets during the divorce proceeding.

Although this focus is important, the fact that it is currently being stressed for those over the age of fifty going through a divorce may have resulted in the unintentional downplay of the issue for Millennials.

Should Millennials be concerned about retirement assets during divorce? In short, yes, Millennials should be concerned about retirement assets during divorce.

Retirement assets generally accumulate over the years. The foundation for retirement assets is set during the account holder's younger years, often his or her twenties and thirties. This foundation is extremely important.

Although a younger person is more likely to have moderate success rebuilding retirement assets after divorce, as noted in a recent piece in the Ledger, the foundation can never be fully replaced. As a result, it is important for Millennials to try to get a fair share of retirement accounts in their final divorce settlement agreement.

How can I better ensure that I get a fair split of retirement assets? There are a number of options that can be taken to help better ensure a fair split during divorce. One option that is becoming more popular is the use of a prenuptial agreement. This legal tool can help guide the split of a number of assets in the event of a divorce, including retirement accounts.

Once going through a divorce, the importance of experienced legal counsel cannot be stressed enough. It is easy to overlook property that should be carefully considered during the asset division determination of the divorce proceeding, such as retirement assets. This risk can be mitigated by hiring experienced counsel to advocate for your interests.

No Comments

Leave a comment
Comment Information

Helpful Links

Let Us Help You Contact our Family Law Firm by calling 800-580-9136 or by completing this contact form. Schedule a confidential initial consultation today.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Offices in Philadelphia and Southern New Jersey For Your Convenience.

Main Office
1845 Walnut Street
19th Floor
Philadelphia, PA 19103

Toll Free: 800-580-9136
Philadelphia Law Office Map

New Jersey Office
923 Haddonfield Road
Building B2, 3rd floor
Cherry Hill, NJ 08002

Toll Free: 800-580-9136
Map & Directions

Review Us
Back To Top