Missouri is an equitable distribution state, which means the court will split the marital property between the spouses in an equitable (fair) manner. It is important to understand that equitable division does not mean equal division. The court may decide that it is fair to award more marital property to one spouse than the other, depending on the facts and circumstances of the case.
Retirement plans may be marital property and subject to equitable distribution through a court judgment and/or a Qualified Domestic Relations Order (QDRO). This includes multiple plan descriptions: 401(k) Plan; 403(b) Plan; 357 Plan; Deferred Compensation Plan; Employee Stock Ownership Plan (ESOP); Profit Sharing Plan; Pensions; Roth IRA; Simple IRA; Traditional IRA; Simplified Employee Pension (SEP); Thrift Savings Plan
Whether you were the primary breadwinner or a devoted homemaker who provided your spouse with valuable support along the way, you deserve your fair share of the marital property, including eligible retirement plans. McChesney & Ortwerth will evaluate the facts and circumstances of your case; explain your rights; and devise a strategy to achieve the result you deserve.
We work with both men and women looking to obtain an affordable retirement plan. If you are in St. Louis, or the surrounding areas, contact McChesney & Ortwerth for a free retirement plan consultation.