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Negotiating Divorce Before Retirement

Posted by Elise Buie | Apr 30, 2015 | 0 Comments

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Divorcing in your retirement years is growing in popularity, but it carries some significant financial risks. Investment income, Social Security benefits, and other financial instruments must be split equitably according to the law, without leaving one party without the money necessary to support themselves after retirement.

It is best for both parties to retain financial advisors along with legal counsel during negotiations. They can work with you and your partner to create a Qualified Domestic Relations Order, which will help split retirement accounts without causing tax issues.

An article on The Huffington Post recommends these early steps in your divorce to aid your negotiations:

  • Make both a pre-divorce and a post-divorce budget to show your financial needs.
  • Review all retirement investment vehicles to make sure they will meet your new financial reality.
  • Review Social Security benefits, especially spousal benefits. Spouses married 10 years or longer are entitled to benefits until they remarry.
  • Talk with a financial advisor about resetting your expectations of your finances.

If you live in the Seattle area, Elise Buie Family Law is ready to help you with issues like these. Washington is a community property state, which has its own complications during divorce proceedings. All property gained during the marriage are considered to be owned by both partners. Splitting things equitably is difficult and requires a skilled attorney. Call today if you're facing divorce and want someone to fight for your fair share.

About the Author

Elise Buie

Passionate, creative, problem-solving attorney who crafts solutions rather than obstacles. Elise spends significant time educating her clients on healthy communication skills. Elise also ensures that her clients make informed decisions by understanding the future emotional and financial implications of their decisions. Your family's future is our first priority. Elise teaches her clients new skills to empower them in the future as they adjust to the new family structure. While divorce ends a marriage, it is the beginning of your new, often times, more authentic life. Elise will help you begin that new life with new skills to handle any future challenges.

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At Elise Buie Family Law Group, PLLC, we represent clients from Seattle and Bellevue, Washington, and the surrounding region, including all of King County and the cities of Redmond, Kirkland, Bellevue, Edmonds, Issaquah, Kenmore, Kent, Federal Way, Shoreline, Des Moines, Bainbridge Island, Vashon, Auburn, Renton and Puyallup. We love working with clients from Seattle's unique, eclectic neighborhoods: West Seattle, Fremont, Ballard, Madrona, Queen Anne, Greenwood, Ravenna, Maple Leaf, Wedgewood, View Ridge, Laurelhurst, Windermere, Madison Park, Magnolia, South Lake Union, Capitol Hill, Broadmoor, Phinney Ridge, Crown Hill, Yarrow Point and Mercer Island.

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Call us at (206) 926-9848
Email: info@elisebuiefamilylaw.com

We'll be happy to set up an initial consult. Thank you for looking around our site. We look forward to serving you.

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Elise Buie Family Law Group

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Elise Buie Family Law Group PLLC
1001 Fourth Avenue, 44th Floor   Seattle, WA 98154

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