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“I would highly recommend him to anyone, and he will be my first choice if I ever need a lawyer again. Thank you Kevin. I wish you the very best of blessings.” - Joe P.
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“If you need real people who put you first, Kevin and his team are who you need. I plan on keeping in touch with them in the future. They have become part of my family.” - James H.
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“J. Kevin Clark P.C. and his team are fantastic hands down! When I meet Kevin I was so lost. My divorce case was extremely contested. Kevin, and his team helped me with the entire process.” - Ryan H.
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“Lisa Peterchuck was wonderful in advising me of what the next steps would be and how to handle the situation ahead.” - Kathrina B.
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“Mr. Clark handled my legal transaction in a very timely and professional manner.” - Former Client
Retirement Accounts, Pensions And Investments In Divorce
What happens to retirement accounts and employee or military pensions in a Texas divorce is a critical consideration that many people do not think about until divorce is looming. It is a common mistake to assume that the person who earned these benefits through work or military service will maintain sole rights to them.
What Will Happen To Retirement Savings And Benefits When We Divorce in TX?
At The Law Office of J. Kevin Clark P.C. in Tarrant County, we often hear questions such as:
- Can I keep the retirement savings I built up in my 401(k) or the pension benefits I earned through work or military service?
- Since I have worked primarily as a parent and homemaker while my spouse worked outside the home, I am depending on the retirement savings he (or she) accumulated. Will I receive those funds or benefits when we divorce?
The most direct answer to both concerns begins with the fact that Texas is a “community property” state. Generally speaking, like all other assets accumulated during the marriage, qualified retirement accounts and pension benefits are typically subject to equitable division between the parties in a divorce.
This applies to savings and benefits including 401(k) plans, pensions administered by the Teachers Retirement System (TRS), railroad pensions and, in some cases, military retired pay. That said, every situation is unique. It is important to work with a lawyer experienced in dealing with these issues because, for example:
- It may be necessary to establish what portion of your retirement accounts and other assets qualify as separate (nonmarital) property obtained prior to your marriage.
- Under certain circumstances, as when both spouses earned comparable benefits, it may be legal and practical for each to keep his or her own accounts.
What Are Qualified Domestic Relations Orders (QDROs)?
Reaching agreement on how retirement savings will be divided is not the only step required. Actual division requires completion of a QDRO, which must be approved by a judge and the plan’s administrator. When assisting clients who are facing divorce with retirement accounts, pensions and investments involved, we draft these orders properly and effectively.
Fort Worth family law attorney Kevin Clark has the knowledge to address all your concerns involving divorce and your finances. To arrange a consultation at a time that works for you, call (817) 241-3328 or send us an email now.
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Convenient Location
Serving clients in Ft. Worth, throughout Tarrant County, and greater Texas.
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Strong Communication
Close, interactive, communication ensures alignment with a clients' most important goals.
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Prompt access to your lawyer from day one addressing your concerns and beyond.
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Effective Advocacy
Skilled representation across a wide spectrum of divorce and family law matters.
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Respected Reputation
Voted as a "Top Attorney" in Ft Worth Tx: The City's Magazine - by his peers.
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Trial Experience
Certified in Civil Trial Law by the Texas Board of Legal Specialization since 1987.
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