Pertaining to an Esop retirement account where contributions were from a different state than where the divorce will be filed which is here in North Carolina. It’s my understanding that according to NC guidelines the value of the retirement is based on the balance of the account the date the person moved out and it would be based on NC guidelines (since the divorce will be here) not the state where the retirement money was accumulated??
Correct. A retirement account is valued as of the date of separation and NC law applies to its distribution in a divorce since you reside in NC. Where the retirement funds accumulated is irrelevant.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here
The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.
1 Like