Managing Retirement and Divorce

Divorce Derailing Retirement

We appreciate that divorce can be complicated. Even where parties agree on all the issues it can be important to speak with a family law attorney regarding some of the more “hidden” aspects of divorce. Many clients have a firm grasp and understanding of their personal property; one person gets grandma’s ring, the other the dinnerware or TV. But when it comes to dividing financial assets it can be easy for the average client to feel a little bit lost without a helping hand to guide them through.

Retirement Benefits

Next to a house, many couples most important asset can be their retirement account, and dividing these up is not as simple as taking half. Retirement benefits could also vest in a number of ways, like through stock options or pension plans which both have different ways of being calculated. Cashing out a retirement plan could have important tax consequences that need to be taken into account when valuing the asset. Even where it may be technically possible, you may need a QRDO, or qualified domestic relations order before moving forward.

Health Insurance

Often courts will require health care for any minor parties, and if retirement is in your future you will need to consider the consequences of health insurance and retirement as well. Does your health insurance continue? Will you need to apply for private insurance when you leave your job?

Tax Implications

Even where benefits seem simple it is important to understand the tax consequences and include these in any property divisions. For example, that 401k is suddenly going to lose a lot of value if it ends up being cashed out early, and you won’t want to wait until tax time for this surprise.

For any questions or concerns regarding retirement and divorce please contact Elise Buie Family Law Group, PLLC for a consultation. 


Subscribe to our newsletters

Subscribe to one or more of our newsletters, delivering meaningful insight on topics that matter to you and your family.
ebl home subscribe image


Latest Blog Posts

An experienced Seattle estate planning attorney can provide understanding about what happens to debts after you die.

A Seattle family law attorney can help you move into the future with this comprehensive guide to your next steps following divorce.

A Seattle estate planning attorney can provide strategies for having a productive family meeting about estate planning.

Learn from an experienced Seattle family law attorney skills for how to divorce a narcissist in Washington state.

A Seattle estate planning attorney can help you draft a mental health advance care directive as part of your estate plan.

A Seattle family law attorney can help if you find you are in a situation where your ex is abusing your pet.

If you are an unmarried couple, a Seattle family law attorney can help you protect your partner through the use of wills and trusts.

A Seattle family law attorney can guide you with next steps should you discover that your spouse has been unfaithful.

An estate planning attorney can help you draft a will or designate some of your property as non-probate assets by creating various trusts.

Not sweating the small stuff is even more important during separation than it is at other times to have an amicable divorce.