A recent Supreme Court decision considered the complications in divorce cases and dividing assets that couples acquire during their marriage. Retirement savings are one of the largest and most valuable assets to be considered during a divorce, such as 401(k) and pension plans.
In May, the Supreme Court overturned a decision by the Supreme Court of Arizona in the case of Howell v. Howell. Any waived portions of military retirement pay are not divisible community property. In this divorce case, the military retirement pay changed after 13 years, altering the original agreement.
Divorce agreements can be confusing and cause feelings of hostility between you and your spouse. It’s best to be prepared before you go to family court where your financials, homes, and property will be divided. Joseph H. Nivin can help you understand the process and in the end, help you reach an agreement that is fair to both parties and families.