Seattle Attorneys Blog
Retirement assets can be a substantial part of a couple’s financial portfolio. This is especially true for couple’s that have worked a long time in their careers and those nearing retirement age. In many cases, the division of these assets is necessary to effectuate a just and equitable division of the marital assets (as required by RCW 26.09.080). When we address retirement assets with our clients, many are concerned about the tax consequences of such a division. They worry that the division of the retirement asset may be treated as a withdrawal and taxed and/or penalized accordingly. The division of retirement assets may be a bit more complicated than the division of other types of assets (like bank accounts, real property, and personal property), but with an experienced family law attorney there to help you, it need not be overwhelmingly difficult.