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If you are dealing with the ending of your marriage and have questions about obtaining or terminating benefits after a Bellevue divorce, it is important to seek help as early as possible. While most people understand that a court will divide certain marital assets—such as bank accounts and real estate—during the divorce process, not everyone knows this could also impact assets such as savings accounts. In addition, the court could require one party to maintain health insurance for the other—even after the marriage has ended.
These kinds of obligations could dramatically impact your financial position. Let our experienced divorce attorneys at Twyford Law Office help you evaluate your situation.
One of the biggest changes in some divorce cases is the loss of health insurance. While the children of a marriage may likely remain on the policy, a former spouse cannot, as they are no longer considered dependents.
Other insurance options are available, though they may be more costly than getting health insurance from your former spouse. These options can include obtaining coverage from your employer or applying for benefits through the Consolidated Omnibus Budget Reconsolidation Act (COBRA). COBRA benefits allow you to pay out of pocket to continue your previous coverage for a limited time.
In some cases, it is possible to obtain health insurance coverage as part of a divorce settlement. Depending on the source of the coverage, it might be more cost-effective to keep a former spouse on a policy than pay for COBRA benefits. An attorney in Bellevue could assist with securing or terminating insurance benefits after a divorce.
It may be possible to retain benefits under Social Security following a divorce in Bellevue. In some situations, you might be eligible to recover Social Security benefits based on your former spouse’s work history. This is true regardless of the relationship between the parties. Eligibility for these benefits does not require permission from the ex-spouse.
However, not everyone will qualify. To seek these benefits from Social Security, your marriage must have lasted for at least 10 years, and your ex-spouse must be at least 62 years of age. Another factor affecting qualification is whether the applicant has remarried. A knowledgeable lawyer at our firm could answer questions about eligibility now and in the future.
The state of Washington treats pensions and other retirement accounts earned during a legal union as marital property. The court has the power to divide these assets, which could lead to complications. As penalties are common for withdrawing money from these accounts early, some creativity may be necessary to find a fair split when terminating benefits after a divorce in Bellevue. In some situations, the judge will simply split the account equally. Otherwise, they might order a distribution drawn from the accounts.
For concerns about obtaining or terminating benefits after a Bellevue divorce, your best option is to seek the support of legal counsel. A qualified attorney could advise you on how to protect your rights and ensure you receive fair treatment during property division. Call Twyford Law Office today to discuss your unique situation.
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