Following a long-term study of the military retirement benefit, the Military Retirement Modernization Commission recommended significant changes to the retirement system. Those modifications could have a significant effect on spouses eligible for Qualified Domestic Relations Orders (QDRO).
The commission recommended changes to reduce government costs and require military members to contribute to their own retirement. The new system includes:
Part of wedding planning should involve a couple sitting down and asking each other various questions. Discussing issues up front can help strengthen the groundwork of a pending marriage.
Divorce statistics being what they are, at least half of married couples will have to deal with the end of their marriages. During that time, the last thing they want to do is talk, with or without help from a marriage counselor.
However, getting issues out in the open before retaining legal counsel could help them move towards an amicable split or perhaps save the marriage. In the end, every effort should be made to make the relationship work before pursuing dissolution.
It has been almost two years since the U.S. Supreme Court ruled in favor of same-sex marriage. And, as with all couples, legal marriage also comes with the right to divorce.
Although the same general divorce laws apply to same-sex couples, there are more complex issues to consider regarding legal decision-making, parenting time, and the division of property.
When you are going through a divorce, seemingly minor financial decisions regarding property division and support can result in tax implications – both now and in the future. It is important to consult your attorney regarding taking steps now to prevent tax penalties and future financial complications.
After a divorce, it is important to plan your finances wisely. Your situation has most likely changed dramatically, so it it vital to account for you and your children’s needs both now and in the future.
Unfortunately, many people do not take steps to ensure a more positive financial future. And, according to a recent survey of certified public accountants (CPAs), women are more likely to up their financial planning efforts after a divorce compared to men.
While there is no single solution for helping you through the healing process after divorce, there are many great ideas to assist the transition into this new phase of your life. We are sharing some of our favorites, below. If there is something you found particularly helpful in bouncing back from your divorce, consider sharing it!
Last month’s U.S. Supreme Court decision solidified same-sex couples’ right to marry. Of course, the right to marry also brings the right to divorce. Research shows that the LGBT community has approximately the same divorce rate as the heterosexual population, so there will be a need for family law attorneys who understand the unique issues that sometimes arise in same-sex divorces.
Divorce can be overwhelming, making it easy to lose sight of important issues. One issue you should not forget about is the beneficiary designations on your life insurance policies, retirement plans, bank accounts, annuities and other instruments.
Whether you are contemplating divorce, initiated the divorce proceedings or finalized them, it is crucial to be mindful of your beneficiary designations, as well as those of your spouse or ex-spouse.
While all divorces are emotionally draining, Arizona households with high net worth have unique issues that must be addressed carefully. If your attorney does not give these issues proper consideration, your divorce may squander the financial resources of one or both parties.
If you or your spouse is a high-income earner or owns valuable assets, ensure that your lawyer carefully focuses on these aspects of your divorce.
Every marriage is work, but a recent divorce study suggests that a couple’s occupations may add further stress to their relationship.
The research, published in the Journal of Police and Criminal Psychology, identified 15 occupations with the highest divorce rates in America.
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