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Divorce near retirement in Bellevue is never easy, and the financial and emotional distress can be overwhelming. You may wonder, “How will this affect my retirement plans? Can I still retire comfortably? What will happen to our home?” Divorce near retirement brings unique challenges, from dividing retirement accounts to adjusting financial plans and lifestyle expectations.
At Twyford Law Office, we take a holistic approach to help you navigate the legal and financial complexities of divorcing near retirement age. Our experienced divorce attorneys will help you understand your options, protect your assets, and plan for post-divorce life. We understand your challenges and, most importantly, how you can overcome them.
One of the biggest concerns for people in Bellevue nearing retirement and going through a divorce is whether they can still retire comfortably even after divorce. Divorce can significantly impact retirement savings, pensions, and investment accounts. It may mean one or both spouses working longer than planned or adjusting their lifestyle to maintain sufficient finances.
We work with our clients to help them reassess their retirement goals. We will fight to get you the fairest division of assets and encourage you to create a new budget for a financially secure future. Your financial safety and well-being are our priority.
The division of retirement accounts is a significant financial consideration if you are near retirement age and filing for divorce in Bellevue. In Washington State, retirement accounts are considered community property, meaning they can be divided during a divorce.
Many clients are surprised to learn that 401(k)s, 403(b)s, IRAs, and pensions are often subject to division during divorce and may require a court-ordered qualified domestic relations order to distribute funds fairly. Special rules—such as the Uniformed Services Former Spouses’ Protection Act—apply to the division of military pensions in a divorce. In addition, government pensions must be looked at carefully, and investment portfolios will be analyzed to see when they were acquired and how they should be divided.
Twyford Law Office will ensure that your retirement accounts are divided fairly and follow any special rules. Our strategy will enable you to maximize your long-term financial security.
Spousal support, or alimony, is a common worry for Bellevue clients going through divorce as they near retirement, particularly if one spouse has been the primary breadwinner. The court considers several factors when determining alimony, including:
At Twyford Law Office, we create fair alimony agreements to secure our clients’ financial future.
Deciding whether to keep or sell a marital home is one of the most emotional decisions that our clients must make in a late-life divorce. Many couples own their home outright. Others have significant equity built up in the house.
There are options for deciding what happens to the family home. Sometimes, it is best to sell the home and divide the money gained from the sale, or one spouse may buy out the other spouse’s share in the house. In other cases, the spouses may decide to co-own the house.
At Twyford Law Office, we help our clients consider their options while keeping their financial concerns at the forefront. We also understand the emotional toll that this aspect of divorce near retirement age in Bellevue may have on our clients.
Facing a divorce near retirement in Bellevue is a serious event, potentially changing your finances and lifestyle. At Twyford Law Office, we give every client individualized attention.
If you are near retirement age and considering divorce, contact us today to schedule a consultation and discuss your options. We will work diligently to protect your assets and help you plan for post-divorce retirement.
Twyford Law Office
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