We have accumulated our home (which is paid for), savings and annuities. I am 63 and have never worked outside the home. I would like to know your suggestions about the best way to deal with the retirements and our other assets.Warner, Jan...
Divorce and Retirement Benefits What Is a QDRO? Even if only one party earned retirement benefits during a marriage, both spouses are entitled to 50% of those earned benefits. To divide the retirement benefits, which are typically not payable until the age of retirement, the law uses what is...
Spouses may also be entitled to other military retirement benefits outside of retirement pay. For example, the MilitaryThrift Savings Plan (TSP)is a divisible asset in divorce, just like civilian retirement accounts. A court order will specify the division, either as a percentage or a fixed amo...
Spouses may also be entitled to other military retirement benefits outside of retirement pay. For example, the MilitaryThrift Savings Plan (TSP)is a divisible asset in divorce, just like civilian retirement accounts. A court order will specify the division, either as a percentage or a fixed amo...
Community property, such as real estate, vehicles, and bank accounts, is subject to court division unless both parties agree on its distribution. The main difference in military divorce proceedings lies in the distribution of military retirement benefits and health insurance benefits. Whether a non-...
FERS vs. CSRS Retirement Plans When it comes to offsetting marital property values in divorce, the difference between FERS/CSRS and traditional non-governmental plans could mean tens of thousands of dollars. You could also lose valuable benefits when dividing these plans with a court order without...
Commonly disputed property includes real estate, Personal Property, cash savings, stocks, bonds, savings plans, and retirement benefits. The statutes that govern property division vary by state, but they generally can be grouped into two types: equitable distribution and Community Property. Most ...
12. Retirement Benefits. If either party has retirement benefits in the form of a traditional defined pension plan, 401K or other type of retirement plan, Federal law requires a separate document called a Qualified Domestic Relations Order (QDRO) or an Eligible Domestic Relations Order (EDRO) whe...
so that they can stay married until they qualify for spousal Social Security benefits. A legal separation has many of the benefits of a divorce and can be a wise interim step that preserves important retirement benefits, especially if one spouse has earned significantly less than the other spouse...
Marriage is a legal union between two people. To be validly married in most states, a couple must buy a marriage license and have the marriage solemnized by a ceremony.13Still,a few states recognize common-law marriage, which extends many of the same benefits as marriage without the license...