What Benefits Can Be Divided?
Even if you are not of retirement age, it is important to think about what will happen to your retirement benefits if you divorce. The property division process can take more money than necessary from your military retirement benefits, federal pension, 401(k) plan, IRA and other retirement assets and survivors benefits if you do not have the right legal representation.
At Russell W. Ray, PLLC, we work with divorcing couples in Fairfax County and across Northern Virginia who need the kind of legal advice that we are well-equipped to provide. We will help you protect your financial future.
Determining Marital And Nonmarital Portions Of Retirement Benefits
One of the most difficult aspects of any property division process is determining what portion of your retirement benefits belong to your spouse and what can be considered “nonmarital.”
For example, if you were in the military for seven years before getting married, married for 13 years and then continued to serve until retirement, your spouse will likely be entitled to a portion of your pension benefits. This also goes for an IRA that received nonmarital and marital contributions.
Our lawyer will work with qualified accountants to research years of financial statements and figure out what portion of your benefits will be termed marital assets. This is complex work, and you should put your trust in attorneys who have a proven track record of success in these matters.
We Do Not Settle For One-Size-Fits-All Solutions
Attorney Russell Ray takes the time to understand clients so he can provide customized services.
Schedule a free consultation by contacting us online or calling our Alexandria office at 703-552-4028. We will give you sound legal advice regarding what could happen to your pension and retirement benefits if you file for divorce.