Fairfax Retirement Benefits and Divorce Attorney
The future is always uncertain. You have put away money for your financial security, and hopefully will enjoy it fully in your golden years. You probably didn't expect to get divorced, and now your uncertainty includes what will happen to your retirement benefits.
A major issue in allocating benefits in divorce is avoiding early distribution, which would have severe tax consequences. Your pension, IRAs, 401k, deferred compensation, government benefits and other retirement benefits will be part of your divorce property distribution. A QDRO (qualified domestic relations order) is a judicial order dividing these future benefits.
Fairfax Retirement Benefits and Divorce Lawyer
As in any legal matter, negotiation is the most effective and efficient way to resolve property distribution. It is frequently a matter of "horse trading" or giving in on issues of less importance to you, and being more demanding on other issues. For example, retaining a family home is sometimes more important to one party, whereas another party wants as much financial liquidity as possible.
The Law Office of Richard L. Downey has decades of experience in a wide variety of family law and divorce matters. Mr. Downey is certified as a Civil Trial Advocate by the National Board of Trial Advocacy and is a seasoned financial and business lawyer as well as a divorce attorney. His practice includes military divorce and military pension division.
Virginia Military Pension Lawyer
If you are the spouse of a military service person, you may have a right to health and retirement benefits if:
- Your spouse served at least 20 years
- Your marriage lasted at least 20 years
- There was an overlap of those periods, of at least 20 years
For more complete information, schedule an appointment by calling us at 703-763-4067 or contact us online.