Helping Retirees Through The Stressful Divorce Process
If you are going through divorce at any age, you should keep retirement in mind when negotiating division of assets, support obligations and needs. You and/or your spouse may have pensions, 401(k) savings accounts, brokerage accounts, IRAs or other savings that will pay out in your retirement years. Any portion of these accounts that have accrued during the marriage may be considered marital property and subject to division in the divorce.
Talk to an experienced Tennessee divorce lawyer about how retirement accounts will figure into your property division settlement or decree. A qualified domestic relations order (QDRO) is a common instrument used to divide retirement accounts without IRS penalties. My law practice, James L. Weatherly Jr., Attorney at Law, in Nashville, can be a valuable source of information and representation as you consider all aspects of property division and spousal support for your divorce. My years of experience have prepared me to advise you well on taking retirement into account as you negotiate terms of a settlement agreement or as an issue for resolution at trial.
The Issues You Face When Retired And Going Through Divorce
If you are planning a divorce when you and/or your spouse have reached or will soon reach retirement, you are not alone. The Los Angeles Times reported in 2016 that “the divorce rate among older Americans has more than doubled since 1990. A half-century ago, only 2.8 percent of Americans over 50 were divorced. Today, that figure is more than 15 percent.”
Your concerns as an older person approaching divorce will naturally differ from those of someone in their 20s, 30s or 40s. Issues such as alimony, health insurance, special health needs, division of investment property and other topics of importance in your golden years should be part of the discussion as you seek to protect assets and reach an equitable settlement or resolution.
Let My Law Firm Assist You
For more information about common problems to solve in a gray divorce or regarding division of retirement assets, call 615-988-4939 or send an email message through this website to reach James L. Weatherly Jr., Attorney at Law.