Don’t Get Shut Out Of Non-Monetary Compensation
Your Bank Statement Is Not Your Full Picture
Many people might look to a checking account or savings account to get a snapshot view of their finances. In terms of marital assets, though, there may be a substantial amount of non-monetary compensation that ultimately adds to the bottom line that is not visible at first glance.
The attorneys at Peter Morris Law in New York City are adept at revealing the entirety of a couple’s marital assets — figures that go beyond a bank statement. Divorcing spouses need to take heed of compensation that is owed but not yet collectible, such as retirement benefits, pension funds, IRAs and other investments that aren’t yet liquid but possibly comprise a large facet of a couple’s financial picture.
Your Retirement May Be Reimagined
Pensions and retirement accounts are designed to reward employees for years of service to a company. After a long career, assets might be substantial. However, except in special circumstances, the funds cannot be drawn until retirement age.
If a couple is divorced before they reach retirement age, though, the nonearning spouse would not have access to the expected funds without intervention. An experienced matrimonial lawyer can find sources of income such as this, as well as other non-monetary compensation such as stock options, to ensure that divorced spouses get their fair share.
Contact Peter Morris Law to schedule a consultation about your divorce case. The attorneys at the practice take an aggressive, tenacious approach to protecting their clients’ assets and rights. Call 212-256-9486 or email the firm by completing the online contact form.