Everyone likes to save money, and Texas residents are no exception. When it comes to ending a marriage, a do-it-yourself divorce might be an attractive option. The Internet is filled with DIY legal forms, along with a range of advice on how to part ways without legal representation. Unfortunately, much of that information is simply false. Even couples who are able to divorce amicably need to do so with the guidance of a trusted legal professional.
Consider, for example, a couple who is able to reach an agreement about the terms of their divorce, including property division. If they decide to go it alone, they may be able to draw up the necessary paperwork and submit it to the court. However, the agreement they reached may not be in line with their best financial interests.
Nowhere is this more apparent than when it comes to dividing retirement assets. The manner in which these assets are split comes with numerous tax ramifications. If a couple makes a mistake, they could lose thousands of dollars, potentially placing their retirement goals in harm’s way. That goes against the goal of ending a marriage in a fair and equitable manner.
Many Texas residents believe that hiring an attorney equates to a contentious divorce process. This, however, is simply not true. A legal professional can guide spouses on how to best process the details of their divorce, even when both parties are working together to end the marriage. For those attempting the division of retirement assets, hiring a family law attorney is a worthy investment.
Source: stltoday.com, “Splitting retirement accounts is tricky for DIY divorce“, Beth Pinsker, Nov. 26, 2017
