/// 11/16/2010
The family attorneys of Gailor, Wallis and Hunt are noted for their prosecution and defense of complex business valuations and difficult financial disputes in cases of separation and divorce. As all marriages result in business transactions, for example, the buying of a home, payments of student-loans and stock investments; all divorces require complex financial transactions to dissolve the property distribution of assets acquired during the marriage. The North Carolina divorce attorneys of Gailor, Wallis and Hunt offer not only representation, but sound advice for managing the transactions that must occur during the dissolution of a marriage in order to protect the legal and financial rights of their divorcing clients. In an effort to provide advice for those whose spouse has a 401(k), the attorneys of Gailor, Wallis and Hunt present an article published on Bankrate.com. The article, titled “Seeking a share of an ex-spouse’s 401(k) can be thorny,” describes what can be done to protect your assets in the event of a divorce and distribution of assets.
According to the article, the first step in protecting your assets and what is rightfully yours is to keep an eye on the balance of your spouse’s retirement account. If you are the nonemployee spouse, ask your attorney to obtain past statements of the retirement account. Seek documents as far back as five years, so the account balance can be examined and you can be assured there were no unexplained withdrawals in the period leading to the separation. Make sure your lawyer continues to receive updated statements while the divorce is pending as well, so unauthorized withdrawals can be detected. If your spouse does remove money from the account, whether it’s a withdrawal or transfer, your attorney will be able to trace the sums and ensure you receive your fair share. In the alternative your attorney can request the court to order that these accounts be frozen until assets are distributed.
The Raleigh, North Carolina divorce attorneys of Gailor, Wallis and Hunt offer this advice in hopes that you will discuss with your attorney the significant issues pertaining to preservation of the assets that you are to receive in the divorce proceedingThe highly respected North Carolina lawyers of Gailor, Wallis and Hunt are dedicated to assisting men and women obtain a fair and equitable divorce settlement when divorce is the only option . GWH offers knowledge, skill and experience in the many areas of family law that is second to none.
To contact any of the attorneys at Gailor, Wallis and Hunt, call them at (866) 362-7586, or visit their website at www.gailorwallishunt.com.
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