Ciancio Ciancio Brown, P.C.
Main Menu Office/Contact

Leaders in Litigation

Divorce mediation can help older couples split assets

In any Denver divorce, dividing assets via divorce mediation can be difficult. This is no different when it comes to couples over the age of fifty who have 401ks, assets tied up in property and other money that has been set aside for retirement. They must come to an agreement regarding how the property will be divided; otherwise, they can risk a court-ordered decision that may not be in their favor.

In a study by ING, a multinational financial service, women who are divorced had nearly $35,000 less in retirement savings than their divorced male counterparts. This leaves some men with the responsibility of paying alimony, and generates anxiety in women who may begin to wonder if they will have enough money to retire at all. In both cases, divorce can leave both sexes with different retirement plans then they had when they were married.

Financial experts have suggestions about how to carefully plan for retirement in the midst of a divorce. For example, they believe that it is important to be aware of the varying taxes implemented with 401k and Roth IRA payouts. Because the Roth IRA will not be taxed if the account holder withdraws money, and the 401k will, splitting the accounts may not be in the best interest of the individual who ends up with the 401k.

If you are contemplating divorce, likely one of the easiest ways to reach a fair settlement is to contact a divorce mediation attorney to assist you. Guidance from a knowledgeable attorney and mediator may help you retain more funds to put aside toward retirement.

Source: Forbes, “4 Divorce Mistakes That Can Derail Retirement,” Marilyn Timbers, August 21, 2013

Email us your case details

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

Ciancio Ciancio Brown, P.C.
390 Interlocken Crescent,
Suite #350

Broomfield, CO 80021

Broomfield Law Office Map

Ciancio Ciancio Brown, P.C.
Downtown Denver Office
1660 Lincoln Street
Suite #2045
Denver, Colorado 80264
Downtown Denver Law Office Map

Ciancio Ciancio Brown, P.C.
Uptown Denver Office
1741 High Street
2nd Floor
Denver, Colorado 80218
Uptown Denver Law Office Map

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.