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How to Negotiate a Retirement Settlement

divorce retirement settlement

One of the things that may be overlooked until it becomes a problem in any divorce settlement is the question of retirement accounts.  Particularly if you are young, this may seem so far in the future that you do not pay much attention to how you divide this particular asset.  However, it is important that you understand the implications of dividing your retirement, particularly if you remarry at a later date.  The Men’s Legal Center has attorneys who are ready to work with you to ensure that your retirement account stays intact and that you have enough money to support yourself long after your divorce is final.

The Retirement Dilemma

Retirement is a time of life when you should not have to worry about making enough money to support yourself.  You choose a retirement plan based on your projected needs and put money into it in order to live after you stop working.  If something happens to reduce that amount significantly, you may not have enough to live on after you retire from working.

Therefore, you must be particularly sensitive to the topic of retirement when you are negotiating a divorce settlement.  The closer you are to retirement age, the more important this becomes.

Negotiating a Retirement Settlement

In order to negotiate a retirement settlement that will work for both you and your former spouse, it is important to keep in mind several factors, including:

  • Age.  The older you are, the more important the retirement question becomes.  If you are within ten years of retirement, it may make more sense to offer your spouse a lump sum from your other assets, such as the equity in the marital home, in order to keep more of your retirement.  On the other hand, if you are very young, your spouse may be content with a buy out of her interest in any retirement accounts you have.
  • Relative incomes.  The more you make, the more likely it is that your spouse will be interested in your retirement portfolio, especially if they have not worked in the past.  It is also more likely that the court will order you to pay them more in the form of retirement security.
  • Other assets.  The more assets you have to divide, the more likely it is that you can negotiate a deal that does not include your retirement account.  Many men choose to give up some equity in the family home, for example, in order to keep more of their retirement account.

The Men’s Legal Center attorneys can help you negotiate the best possible divorce settlement that protects your retirement and your other assets.